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Wed Dec 12, 2012, 03:47 PM

fact check on tax rate hike funding 8 days ????

this seems to be the latest republican talking point, and I wonder if there is a fact check on it? And if so, why is that an excuse NOT to do it? It seems like a double negative to use as a reason because it 'only pays for 8 days'. But then how can they claim it is going to cause such irreparable harm to the economy? Something doesn't seem right, and I don't trust their math regardless.

I feel like Obama needs to go back to the whole MATH doesn't add up. And the reason that he wants the tax hikes (other than fairness) is so they can continue investments in targeted areas instead of only cuts to everything.

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Reply fact check on tax rate hike funding 8 days ???? (Original post)
blue_heron Dec 2012 OP
EC Dec 2012 #1
1StrongBlackMan Dec 2012 #2
PoliticAverse Dec 2012 #3
JoSpits Dec 2012 #4
Filibuster Harry Dec 2012 #5

Response to blue_heron (Original post)

Wed Dec 12, 2012, 03:53 PM

1. It's not to fund the government

it's to provide a stimulus by putting people to work. Which will provide revenues which will fund the government.

And I guess it caused so much irreparable harm back in the 90's that we should try and avoid that?

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Response to blue_heron (Original post)

Wed Dec 12, 2012, 04:00 PM

2. I haven't fact-checked it ...

for exactly the reason you state ... "why is that an excuse NOT to do it", especially when the gop had it as absolutely vital that we make cuts to a program that would have run government for what ... 16 seconds? Think "Big Bird."

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Response to blue_heron (Original post)

Wed Dec 12, 2012, 04:20 PM

3. Here are some numbers...

Allowing the Bush tax cuts for higher income Americans to expire is estimated to raise and save roughly $950 billion
over 10 years (about $95 billion/year)
See


The federal government budget last fiscal year (2011-12) was about $3.5 trillion ( /365 =~ $9.6 billion/day).
( http://www.nytimes.com/2012/10/13/business/federal-deficit-for-2012-fiscal-year-falls-to-1-1-trillion.html )

So the extra $95 billion/year =~ 95/9.6 =~ 9.9 days of expenditure.

As far as deficit which was about $ 1.1 trillion ( /365 =~ $ 3.01 billion/day) the $95 billion/year would cover
95/3.01 =~ 31.6 days.



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Response to blue_heron (Original post)

Wed Dec 12, 2012, 04:26 PM

4. Spam deleted by SidDithers (MIR Team)

 

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Response to blue_heron (Original post)

Wed Dec 12, 2012, 04:48 PM

5. the Rs will come up with anything that sounds good. If there math is so good then why do their

elected presidents (Reagan, Bush, Bush) and congressmen always leave us with a bigger deficit than when they started?

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