Most of the tax deal is what Obama wanted...

[dkf]

He got the middle class tax cuts which are over 4x the cost of the upper 2%. Plus he got the payroll tax reduced and unemployment extended.

Obama did most of that spending. The top 2% is the smallest part of it.

[aquart]

1. I can't believe what passes for math around here.

[Dawgs]

4. +1. Amazing that some are still so ignorant of the widening wealth gap.

It's no wonder we lost this last election.

[TBF]

11. I don't think they are ignorant of it - they just don't care. Unrec the OP. nt

[FSogol]

2. Yeah, but that will get ignored so everyone can continue their "the sky is falling" posts.

:shrug:

[CJCRANE]

3. Link?

I'm sure I saw a presentation which showed the top rate tax cuts caused the biggest increase in the deficit.

[rurallib]

5. no - just believe it is so because he said so.

[dkf]

7. Numbers below.

[dkf]

6. Top 2% is $700 billion over 10 years vs $3.2 trillion for middle class cuts.

Plus $120 billion a year for social security 2% reduction plus $56 billion for one year of unemployment extensions.

So $320 billion x 2 years + $120 billion x 2 years + $56 billion x 1 year = $936 billion over 2 years

Vs. $140 billion in tax cuts for the top 2%


http://online.wsj.com/article/SB10001424052748703471904576004093309812176.html?mod=googlenews_wsj

http://blogs.forbes.com/brianwingfield/2010/09/15/senate-republicans-tax-break-plan-could-cost-4-trillion/

http://www.nytimes.com/2010/11/07/opinion/07sun1.html

[TheKentuckian]

8. The bulk of the so called "middle class" tax cuts are poison as well. As is the payroll cut.

Liking tax cuts because they benefit you doesn't make the good policy.

[dkf]

10. Hey I want the whole thing expired.

I'm more afraid of am IMF takeover than the Republicans.

But this crew is so focused on the top 2% they don't realize most of it is not focused on that bracket.

[closeupready]

9. Unrecced.

n/t