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View Diary: House Republicans: Bush tax cuts still don't have to be paid for (94 comments)

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  •  I think the numbers are broken out in a misleading (0+ / 0-)

    way.  For example, in the figures you cite above where the total cost of the cuts is $3.7 trillion over ten years and $700 billion is attributed to the cuts applied to income over $250,000, you have to examine what makes up the remaining $3 trillion.  

    I looked at these figures recently.  The Bush tax cuts included provisions for a variety of changes to the tax code.  There was more to it than a lowering of the marginal rates.  There were also adjustments made to the AMT and the benefit was heavily skewed in favor of those with income in excess of $250K.  That amount would have to be added to the $700 billion which only takes into consideration the impact of the change in the top two marginal rates.  All of the other provisions of the Bush Tax Cuts that were heavily tilted to upper income earners would also have to added to obtain a true number that shows how much revenue could be collected if a partial extension only includes provisions favoring the lower end.

    "Those who deny freedom to others, deserve it not for themselves." - Abraham Lincoln

    by leftreborn on Wed May 02, 2012 at 01:16:07 PM PDT

    [ Parent ]

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