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View Diary: President Obama delivers remarks on extending middle-income tax cuts (151 comments)

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  •  But people arguing for tax increases over $250K (2+ / 0-)
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    Losty, Sychotic1

    are not the ones arguing for spending cuts on the social safety net. We're arguing to tax increases to PREVENT those cuts.

    All I'm saying is, in some places $250K is not wealthy, just upper middle class, and if you have to draw the line, that seems a politically and economically smart place to do it.

    Where would you draw the line? Why?

    •  not economically smart at all (2+ / 0-)
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      Losty, Johnathan Ivan

      From $100k to $250k is over $1 trillion over 10 years, possibly more.

      Economically it's worthless because people who make $100k save their tax cuts instead of spending them. It's not stimulative. But it's also very expensive ($trillions) forcing deep spending cuts (basically why Simpson-Bowles exists.)

      At median or below ($50k/year), tax cuts are spent. So somewhere between $50k and $100k should be the cutoff for economic reasons.

      Politically is a different question. Do you want to spend $trillions to buy upper-middle-class votes, when the cost is deep spending cuts? Not me. But I'm a Democrat, not a Reagan Republican.

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