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View Diary: White House: Holding middle-class tax cuts hostage hurts economic growth (37 comments)

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  •  Correct me if I am wrong (2+ / 0-)
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    bear83, RUNDOWN

    But this White House report is talking about what the impact on the economy would be if the tax cut on incomes below $250,000 were to expire and stay expired for the remainder of 2013.

    What would the economic impact be if the tax cuts were to expire on Jan 1st and then be passed back into law on say, Feb. 1st, with a stipulation that they would be retroactive back to the original Jan. 1st deadline?

    Everyone talks about the expiration as if they are permanent. They are permanent only to the accountants who have to base their calculations on what is known (when the cuts will expire), not on what is unknown (when they be restored in future legislation).

    •  Krugman and others have already written (1+ / 0-)
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      Brooke In Seattle

      that the expiration of the tax cuts won't have a big impact on anyone for at least a few months. But over time, their impact will be felt.

      "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

      by kovie on Mon Nov 26, 2012 at 07:45:36 AM PST

      [ Parent ]

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