Skip to comments.Tax hike for wealthy Americans won't kill growth:CBO
Posted on 11/08/2012 4:15:39 PM PST by mdittmar
(Reuters) - Allowing income tax rates to rise for wealthy Americans, and maintaining rates for the less affluent, would not hurt U.S. economic growth much in 2013, the Congressional Budget Office said on Thursday, stepping into a dispute between Republicans and Democrats over how to resolve the so-called "fiscal cliff."
The report by the authoritative non-partisan arm of Congress is expected to fuel President Barack Obama's demand for higher taxes on the rich, part of his proposal to avoid the full impact of the expiring tax cuts and across-the-board spending reductions set to begin in early 2013 unless Congress acts.
Republicans argue that any tax increases would be devastating to the economy, particularly to small businesses, and to U.S. employment rates.
They have held firm to their position that none of the cuts, which originated during the administration of President George W. Bush, should be allowed to expire.
The CBO said the tax hikes for the wealthy would reduce job growth by around 200,000 jobs, much less than the 700,000 in job losses claimed by Republican Speaker of the House John A. Boehner.
(Excerpt) Read more at reuters.com ...
(Hahahaha!!!) How the @#$% do they KNOW that!? Lies, lies, lies, and more lies, layered and sprinkled with more lies....
Operative word conveniently omitted
Either this "non-partisan" (snort) office is populated by retards or overeducated Keynesians, for which there is scarcely a difference.
Boehner should just have a press conference and say Obama believes that tax increases will help this country. So we are reluctantly going along. Say it so it can be a republican campaign commercial in 2014 and the media cannot change it.
Then sit back and wait. We are going to have to bend over one way or the other. Might as well do it in a way that Obama cannot claim it was Congress’s fault.
When tax cuts are stopped is it really a tax increase or really a return to the tax rates of when the tax cuts were implemented?
Communist Barack Obama.
200,000 jobs isn’t “much”? These people have e’fing families, mortgages, car payments, need to eat and care for their children!
how can it kill growth ?
there isn’t any growth now. It’ll just kill any remaining hope of growth for small businesses.
Parse the meaning correctly
Assuming the CBO is telling the truth (which it isn’t), where but in the mind of a liberal MSM hack is the loss of 200,000 jobs not significant? Tell that to those 200,000 families that will have to rely on the welfare state to put food on the table,
How about the 47% that PAY NO FEDERAL INCOME TAXES PAY SOMETHING??????? Hello????? EVERYONE needs some SKIN IN THE GAME!!!
Interesting set-up for 2014: We did it his way, and look where it got us.
But probably too effective a strategy to warrant consideration by Boner.
IT may not... but OBAMACARE will....
” would not hurt U.S. economic growth much”
This won’t hurt you...much. - WC Fields, The Dentist
The Bush Tax were passed as a bundle so let them die as a bundle.
“...Do I really need to say it?”
The wealthy will leave and who is left? the middleclass, you know the middleclass that you heard him and the other ass clown spew at nausium. Thier sites are on the “middleclass” me and you to pay. We will be brought down to the poverty level like everyone else and then they will have thier utopia the dependents and the elitists
When my taxes go up to 39.5, my spending and investments go down - it is that simple.