rowan volvo
New member
The temporary Bush tax cuts were originally proposed on the grounds that the U.S. had a surplus. Now their extension is about to become law on the grounds that the U.S. has a huge deficit.
Using Mussolini's supply-side economic theories they make the claim that after 10 years of waiting, "this time for sure" the tax cuts will boost job creation.
But the cost of the _additional_ tax cut for the wealthiest (they already get a cut on their first quarter mil) will end up making the poorest workers pay even MORE tax, due to credits being cancelled in order to pay for it, further bleeding the already anemic consumer base which jobs are created to serve.
On top of that, there is a good chance that if the current legislation is passed the U.S. will lose its AAA credit rating, raising the cost of our current debt, and increasing the already dangerous risk of currency collapse.
How bad does it have to get before the Republicans in congress tell their shadowed masters to just wait for a bit while they serve the American people?
http://www.bloomberg.com/news/2010-12-13/moody-s-says-obama-tax-deal-is-negative-for-u-s-credit-rating.html
http://www.huffingtonpost.com/2010/12/10/obamarepublican-deal-coul_n_795187.html
smsmith: we currently have a AAA rating, just like it says in the question. -- have had it for some quite some time, but it's hanging by a thread right now.
Since minimum wage workers have to pay taxes, when was the last time you looked?
Using Mussolini's supply-side economic theories they make the claim that after 10 years of waiting, "this time for sure" the tax cuts will boost job creation.
But the cost of the _additional_ tax cut for the wealthiest (they already get a cut on their first quarter mil) will end up making the poorest workers pay even MORE tax, due to credits being cancelled in order to pay for it, further bleeding the already anemic consumer base which jobs are created to serve.
On top of that, there is a good chance that if the current legislation is passed the U.S. will lose its AAA credit rating, raising the cost of our current debt, and increasing the already dangerous risk of currency collapse.
How bad does it have to get before the Republicans in congress tell their shadowed masters to just wait for a bit while they serve the American people?
http://www.bloomberg.com/news/2010-12-13/moody-s-says-obama-tax-deal-is-negative-for-u-s-credit-rating.html
http://www.huffingtonpost.com/2010/12/10/obamarepublican-deal-coul_n_795187.html
smsmith: we currently have a AAA rating, just like it says in the question. -- have had it for some quite some time, but it's hanging by a thread right now.
Since minimum wage workers have to pay taxes, when was the last time you looked?