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CruelNUnsual -> RE: Steele says GOP comeback has started (5/22/2009 7:53:39 AM)
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ORIGINAL: rulemylife
quote:
ORIGINAL: CruelNUnsual
He has backed away from them with Cap and Trade, a tax on low and middle income earners that dwarfs his supposed income tax cuts. Read the article.
Let's take a look at two quotes from the article and you can tell me if you find them to be objective:
Official budget calculations disguise the resulting fiscal drag by treating Mr. Obama's proposal to cancel the 2011 income tax increases for taxpayers with incomes below $250,000 as if they are real tax cuts.
Ok, so the writer is arguing that canceling a tax increase does not qualify as a tax cut. Fair enough.
The next-largest tax increase -- with a projected rise in revenue of more than $300 billion between 2011 and 2019 -- comes from increasing the tax rates on the very small number of taxpayers with incomes over $250,000.
Except now he is arguing that canceling a tax cut does qualify as a tax increase.
He calls it increasing the tax rate when it is actually only allowing a temporary tax rate cut Bush imposed to expire, as it was originally supposed to, and letting the top two tax brackets revert to what they were.
Huh?
Canceling a tax increase that were never paid in the first place IS NOT a tax cut. If it wasnt in that article then in another one the analogy is made to a family that plans a $10,000 vacation every year, doesnt take them, and says they "saved $10,000".
Letting a tax cut that actually was implemented expire IS a tax increase. People with the same income will pay more taxes than they did the year before. That is the definition of a tax increase.
The only one biased around here is you. As always.
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