Tuesday, August 16, 2005

How Crippled Will the U.S. Economy Be if the Tax Cuts are Made Permanent?

Wash. Post omitted estimated impact on deficit... Media Matters

You don't want to know...

"permanently extending the tax cuts in 2011 would increase the deficit in fiscal years 2011 through 2015 by more than a trillion dollars."

The Bush economy has successfully made the upper 1% of this country legally filthy rich; no need for all the illegal tax shelters and shady off-shore accounts required in days of old.

And what do we get in return, for transferring our hard earned wages to the rich in the form of tax cuts and capital gains breaks? A country so in debt the World Bank will be keeping an eye on us, while China and Japan get closer to having no choice but dump our dollars and send us into a massive tailspin.

You're welcome, kids.

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