Saturday, August 14, 2010
Two tax plans
Chart from Ezra Klein at the Washington Post.
There is much more analysis that should be done and is done. But while it makes almost no difference to me at my bracket whether the Bush tax cuts are extended, it makes a great deal to our economy.
Benefiting the wealthy at the expense of the overall economic well-being.... How might we describe that? Oh yes, class warfare, a war that has been steadily waged against the middle class by the wealthy for as long human history has records.
What a lovely swath of deficit vanishes if the Bush tax cuts lapse. So if you are going to posture about the deficit (I am looking at you congressional Republicans), you will undoubtedly let them lapse without a squawk. But if your real interest is the happiness of your wealthy overlords and not the health of the American economy, you will try to preserve them.
Oh. I guess we already know the answer, don't we?