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In reply to the discussion: Boehner asks what he gets for $800b. Obama: "You get nothing." [View all]JDPriestly
(57,936 posts)Letting the Bush-era tax cuts of 2001 and 2003 expire on schedule at the end of 2012 would bring the government nearly $1 trillion in revenue over the next 10 years, according to a new report from the Congressional Budget Office. Thats $823 billion in added revenue and $127 billion in interest to be exact, for a total $950 billion in ten-year deficit reduction.
http://www.huffingtonpost.com/2012/08/24/bush-era-tax-cuts-revenue-expire_n_1828657.html
He was simply saying that revenues increase by $823 billion if there is no deal and we "go over the cliff."
It's Republicans who have the most to worry about if we go over the cliff.
If they want some or all of the tax cuts to continue, the Republicans have to improve revenues over what will happen if we go over the fiscal cliff.
I think aw should just go over the fiscal cliff. Either way, we have a recession. Either way, taxes go up. Either way, a lot of people suffer simply because Republicans are throwing a temper tantrum.