| Boner told Obama he would let the Bush tax cuts expire
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It is a TAX INCREASE.
Boner told Obama he would let the Bush tax cuts expire for high income families and individuals to the $800M in revenue as part of the deal.
Boner’s treachery was revealed by Cantor and now Boner is resorting to secret deals through intermediaries (Mitch McConnell) to bring back the TAX INCREASE.
You need to calm down.
The Bush rates AND the Social Security 2% cut are already due to expire. There is no change happening to that date. Are you going to demand no change to the reduced SS level too?
I am not confident that is what the 800B is, regardless. The expiration of both of those would add to far more than 800B over 10 years. Also, it would be substantially economically contractive and I would think Obama will not want that in 2012.
Patience.
| Boner told Obama he would let the Bush tax cuts expire
|
No, he didn't.
The $800M is a combination of so-called loophole closings and flatter (less progressive) tax rates which would cause more people to pay income taxes.
I'm not wild about it, but let's be accurate.
I don't think that's true, but even if it were, who cares if Republicans promise to let the Bush tax cuts expire? They expire at the end of 2012. So does Obama. So does Harry Reid's majority in the Senate. Come January 2013, it'll be Morning in America and new tax laws can be passed and signed without need for approval from Democrats.