Re: Fwd: [New post] Obama And The Bush Tax Cuts: Once Again, With Feeling

It is dishonest to refer to these as the 'Bush Tax Cuts'.
The Bush Tax Cuts EXPIRED -- BY DESIGN (why Republicans would not FORCE the taxes to be raised is baffling, but expected).

Regard$,
--MJ

"GOP: We believe in free enterprise except Social Security, Medicare, Fed Reserve, state schooling, bailouts, foreign aid, & farms subsidies.
"GOP (part 2): We believe in free enterprise except the drug war, welfare, protectionism, immigration controls, education grants & embargoes." -- Jacob Hornberger





At 12:29 PM 7/10/2012, you wrote:

---------- Forwarded message ----------
From: The League of Ordinary Gentlemen
Date: Tuesday, July 10, 2012
Subject: [New post] Obama And The Bush Tax Cuts: Once Again, With Feeling
To: majors.bruce@gmail.com

New post on The League of Ordinary Gentlemen

 
 

Obama And The Bush Tax Cuts: Once Again, With Feeling

by Elias Isquith

Even before he was inaugurated, the so-called Bush Tax Cuts (BTCs) of 2001 and 2003 loomed over the Obama Presidency. On the campaign trail, Obama promised to extend the cuts for those making under $250,000 while letting the rest expire as scheduled before 2011. During the final days of 2010, however, the President found keeping this promise would cost more than it was worth and acquiesced to Republican demands that either all or none of the cuts were extended. He signed a bill carrying over all the cuts until 2013. The calculation made was that the sickly economy of late-2010 could not withstand raising taxes on 98 percent of the public, and that a promise deferred is not broken. So he extended the cuts for a year further still.

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Elias Isquith | July 10, 2012 at 12:16 pm | Categories: Politics & Foreign Affairs | URL: http://wp.me/pqdHr-arJ

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