They sure DO….
For those of us who make LESS than $250,000 or so a year……
For those making over that ….
Or even over a Million a year?
Let the cuts go away….
Someone said today maybe the Republicans are dumb enough to want the Bush Tax cuts to go into effect for
EVERYBODY for a few minutes so they can vote the increase down and say they CUT taxes!….
Sure IS starnge , eh?
Oh, ah, WHAT irony?
The Lost Irony in the Tax Debate
There is an uncanny irony that has emerged from the bowels of the tax fight – one that is lost in all the banal details of the pitched battle. Democrats have fallen in love with the Bush tax cuts, which they fought so vociferously to block in 2001 and 2003.
While the Democrats are demanding that we raise taxes on the rich, they are stridently demanding that we extend the Bush tax cuts for the rest of American taxpayers (or non-taxpayers). The irony is that Democrats spent several years during the Bush years protesting how the Bush tax cuts were nothing but handouts for the rich. Now, they are correctly asserting that if we don’t extend the Bush tax cuts, low and middle income earners will be severely hit. Woops!
Democrats will never have the intellectual honesty to give Bush (and Reagan) the credit for lowering taxes (and in some cases, granting negative tax liabilities) for low and middle income families, but the reality is that the Bush tax cuts made our tax code more progressive than ever. Bush lowered rates in the middle and at the bottom, eliminated the lowest bracket, doubled the child tax credit, and fixed the marriage penalty.
Over the years, Republicans have lowered taxes substantially towards the bottom end of the income scale with every tax reform package. In 1981, the first year Reagan was in office, only 19.6% of tax units had no tax liability. In 2009, according to the Tax Foundation, 40.9% of tax filers paid no federal income taxes. A number of households towards the bottom end make several thousand dollars off the tax code, as a result of the expansion of the child tax credit and the earned income credit (and Obama’s Make Work Pay Credit in 2010)…..