Most of those tax hikes are going to hit the middle class.
Look at that dark orange bar on your chart. About six out of every seven dollars there is tax relief for people with incomes under $250,000. I notice the CBPP overlooks that. If the Democrats keep the low taxes for the middle class, how much does that bar actually change?
We are in this mess because we are now routinely spending half a trillion more a year than we were spending just five years ago (constant dollars).
And more than a trillion a year than we were spending in 2000. Everything worked pretty well back in 2000, didn't it? And yet we now need to spend a trillion a year more than that, every year, forever. Or society collapses somehow.
Move that black line down by $500 billion. Or a trillion. Looks a bit better, doesn't it? In spite of all the rest?
By the way, if I was able to add debt service costs to entitlement growth like the CBPP did to the war and other costs, what would that look like?
Current Events » in reply to Let's wrap this up
You're not paying attention to the details of the tax hike.
The whole thread (25 posts)
- Ready for Taxmageddon?
- The sky is falling, the sky is falling.
- Pretending again?
- Re: Pretending again?
- That will depend on what and grand bargain or tax reform looks like, now won't it?
- Let's give some of those things a try.
- Let's wrap this up
- You're not paying attention to the details of the tax hike.
- I'm fully aware of the middle class proporation
- Can we try to remember that deficits actually were at Bush-era levels during the Bush era?
- I'm fully aware of the middle class proporation
- You're not paying attention to the details of the tax hike.
- Let's wrap this up
- We should call their bluff.
- Let's give some of those things a try.
- That will depend on what and grand bargain or tax reform looks like, now won't it?
- Re: Pretending again?