Sunday, August 1, 2010

What would happen if the Bush tax cuts really expired?

It looks like that for the vast majority of us, we either won't notice a difference or will notice a slightly lighter tax obligation. Besides, the tax cuts are not a benefit for the economy (which wasn't that great before the crash of 2008) and if anything are a drag on the economy. Our fetish with trickle-down economics is the only powerful motivator for keeping the cuts in place. Really, when it gets down to brass tacks, our tax burden has been at a historical low. I'd prefer a focus on stimulating the economy short-term, and then focus on a sustainable economic policy as we transition from a cheap energy to a more expensive energy reality.

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