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Politics : View from the Center and Left
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To: Steve Lokness who wrote (151940)12/10/2010 2:15:44 PM
From: KyrosL  Read Replies (2) of 542602
 
One can argue this is no budget buster:

1. It extends TEMPORARILY all the Bush tax cuts. Let's not forget that if ALL the Bush tax cuts expire, then the long term fiscal problem is fixed without taking any other action. The "middle class" Bush tax cuts are in fact twice as expensive as the "rich" Bush tax cuts.

2. It focuses attention on the debt commission recommendations. Since the tax cuts are now temporary, Obama can demand that the debt commission recommendations are adopted, greatly simplifying the tax code, or he vetoes any attempt to make the tax cuts permanent.
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