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Tuesday, April 10, 2012

George W. Bush: “I wish they weren’t called the Bush tax cuts” « Hot Air

George W. Bush: “I wish they weren’t called the Bush tax cuts” « Hot Air: "“Allowing the Bush tax cuts to expire” sounds innocuous. It’d be a different story if Democrats said what they really want to do: “We want to raise taxes by $166 billion.” That’s what allowing the Bush tax cuts to expire amounts to — a massive tax increase on income-taxpaying Americans. (Remember, nearly half of Americans pay NO income taxes! This hike doesn’t affect them, so they have no reason to oppose the expiration of the tax cuts — and every reason to vote for politicians who promise them handouts.)

What is, perhaps, worse about this proposed massive tax increase is that it would hit Americans at the same time that other tax cuts are expiring and various Obamacare tax hikes are taking effect. Consequently, Americans could face up to a $494 billion tax increase in 2013 — what some are calling Taxmageddon. We might not be in the midst of a recession, but job growth is still anemic and such a massive tax hike is the last thing we need if we want job creation to soar."

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