Tuesday, September 07, 2010

Obama Won't Extend Bush Tax Cuts

From Business Insider:
So much for the idea that Peter Orszag's piece in the NYT today was some sort of "trial balloon" on the part of the administration, to see if it might reverse itself on the matter of the Bush tax cuts.

Turns out The White House is now directly going against the prescription put forth by its former CBO head (not to mention many others), as the NYT reports that Obama will flatly reject any calls to extend the Bush tax cuts.
Orzag said today that refusing to extend the tax cuts will make unemployment "worse."

Here's a note to all you people who have claimed for the last 30 years that only the rich benefit from tax cuts...the people who have money are the ones who make jobs, and those who have more disposable income actually buy more things with it!

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