Time is the basis for/ to achieve the full reduction amount. If the Bush tax cuts are extended it will likely be or 3 years or 5 years, etc. Some set time period, and it would indeed make a possible difference of 5 Trillion dollars in 5 years. It is imperative to know what the time period is for any additions or tax cuts.
Knowing Obama that is one of the reasons for that number. He counts as a “cut” the taxes that the “rich” are supposed to increase in January without extending the current tax rate.
He does this same dishonest maneuver in reverse by claiming that he’s cutting $4 trillon off the budget by using numbers that are already off the books.
And the definition of 20%. Romney said it would be a 20% tax cut for the middle class.
Obviously, since it’s a graduated scale and there’s upper, middle, and lower middle incomes, 20% on a graduated tax scale that has 15 - 25 percent brackets as middle class means that we’re talking dropping the 15 to about 12 and the 25 down to about 20.
It's crystal clear, dammit!
Omugabe has told us repeatedly and constantly...
Massive Tax increases immediately for EVERYBODY.
Modest deficit reductions in ten years!
...when Omugabe is retired under a palm tree in Hawaii... if he's lucky.