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View Diary: Do we even have a tax cut "deal?" (229 comments)

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  •  Yes, it means that the Clinton era (2+ / 0-)
    Recommended by:
    Limelite, SottoVoce

    rates return.  

    Which sounds good, but most people can't remember what they paid under Clinton.  They do remember what they paid last year.

    "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

    by Geekesque on Wed Dec 08, 2010 at 08:45:43 AM PST

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    •  It's Also Good for the Country (0+ / 0-)

      (an Obama watch-phrase) to return to tax bases within the 18-19% GDP of that era.

      "ingratiation and access . . . are not corruption." -- Justice Kennedy (Citizens United v. Federal Election Commission, 2010)

      by Limelite on Wed Dec 08, 2010 at 08:56:06 AM PST

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      •  I agree the ultimate goal should be the return (3+ / 0-)

        of all Clinton tax rates--including those on the middle class.

        But, we tend to have things backwards in this country.  When times are good, the instinct is to raise spending and cut taxes because there's enough money coming in.  And vice-versa--during down times we should 'tighten our belts' etc etc.

        In reality, we should raise taxes and cut spending during the good times to hedge inflation and raise spending and cut taxes during down times--government gets more bang for its buck and smooths out the business cycle.

        This is pretty basic stuff.

        "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

        by Geekesque on Wed Dec 08, 2010 at 09:00:43 AM PST

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    •  What about the effect on unemployment? (0+ / 0-)

      You know, the argument that higher middle class taxes will decrease consumption thus decrease jobs.

      "YES WE CAN!." Barack Obama Update: Well, apparently we can't.

      by Time Waits for no Woman on Wed Dec 08, 2010 at 11:31:02 AM PST

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