Current Events — HabitableZone

Current Events

And just a reminder on the Bush tax cuts

During the great flap last year on extending them, Obama and the Democrats were forced to admit that of the $3.7 trillion in revenues that were predicted if all of them were eliminated, $3 trillion of that was for incomes below $250,000.

In short, the Democrats lied about "Bush's tax cuts for the rich" for years. Obama wanted that $3 trillion middle-class part extended, leaving only $700 billion to cover $9.5 trillion in predicted deficits over that ten year time period. His proposed budget STILL includes that extension.

Here's a little math problem for someone to work out:

If taking us back to Clinton tax rates for those over $250,000 income theoretically yields $700 billion in revenues over ten years, what would those rates have to be to yield $9.5 trillion?

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