let all of the tax cuts excpire

[scottw]

Originally Posted by Jim in CT

You (and Obama) are assuming that as tax rates change, nothing else changes.

Hogwash. The fact is, when Bush cut tax rates for everyone, tax revenues (meaning tax dollars collected) went up. Why? Because if done smartly, tax cuts can be stimulative.

If increasing tax rates always meant more tax revenue collected, why are all the European nations on the brink of bankruptcy? Whay are states like CT and Mass (with high tax rates) so broke? Because higher tax rates can cause the economy to retract.

I believe in paying my fair share.

You (incorrcetly in my opinion) think the solution to our problem is to raise taxes. In my opinion, we need to cut spending. As the brilliant Gov Christie from New Jersey says "we don't have a tax revenue problem, we have a spending problem".

I get it Jim, just playing with the current Obama logic a bit ...if we can't afford the money that would be collected from the top 2 percent and will have to borrow to replace it.... then we certainly can't afford and will have to borrow what we won't be collecting from the 98 percent if we extend their tax rates.....maybe "it's the spending stupid"......