Obama: Bush Tax Cuts For Wealthy Will Not Be Extended, Period

[JoePhilly]

78. Again, no.

The taxes to be collected between 250k and 1 million is rounding error. Actually, the big money kicks in above 5 to 10 million.

And so, the deficit is not really effected by the money between 250k and even 5 million. Try to recall that it is the money ABOVE those amounts that gets taxed at a higher rate.

If you make say 270k, you'd pay 3% more on the 20k above the 250k. Which is not very much. And even if you go up to 1 million, its still small potatoes.

The GOP is going to scream about the debit no matter what. The entire reason they ran it up was to use it as an argument to kill Social Security and Medicare. Its why they want to invade Iran and Syria ... to spend even more. Even if all the tax cuts expired, they'd still be screaming.

Bottom line: Letting all the cuts expire really does little to stop their screaming over this.

And no, I don't think them using that argument as a way to cut government is OK ... I'm actually not sure why you would accuse me of that? Did I attack YOU? Question your motives?

I am discussing politics with you. Maybe that's not the discussion you want to have. Which is fine, just say so. I described in some detail why I think Obama extended the cuts back in 2010 ... in a direct response to you. You have yet to respond on that part of my post in any way.

I also described how I think it will play out POLITICALLY going forward through the rest of the year. Feel free to disagree and describe WHY ... and yes, please, you should also feel free to question my motives. After all, I may be a GOP operative trying to trick you.