"Now let's say the tax side goes according to the White House's plan: Most of the Bush tax cuts are extended, but the break for income of more than $250,000 a year expires. Are we done? … In 2021, that scenario would leave the debt above 75 percent of GDP -- and growing. …it doesn't leave us at all prepared to deal with costs related to the retiring baby boomers. …
"Next year, the Bush tax cuts expire. If Congress does nothing, we revert to Clinton-era tax rates for everyone, and the federal coffers fill with $3.6 trillion in additional revenue over the next 10 years -- enough to stabilize deficits. …To govern responsibly, Democrats cannot simply raise taxes on the rich and call it a day."
Washington Post blogger Ezra Klein urging Democrats to let ALL of the Bush tax cuts expire -- not just those for the wealthy.
“In a moment of honesty, even a true blue lefty like Klein acknowledges the cost of Big Government, as well as the hollowness of Obama's class warfare rhetoric. Don't fall for it.”
Gary Bauer
Campaign for Working Families
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