More clarification of the tax extension:
Nothing changes so much as it stays the same. The Democrats continue to be relentless in their determination to expand all levels of government, and Republicans, despite just coming off an historic electoral victory nationwide, still don’t get it.
It would be impossible, under normal circumstances, to imagine that Democrats in Congress, having gone through what they have for the past two years, do not yet have their facts straight. They still are mired in the rhetoric of the past, and apparently are determined to remain there.
Just for the record, let’s put the facts on the table and burn them into the consciousness of every single Republican in Congress.
Nobody, but nobody is getting a tax cut by extending current law. We are simply maintaining the current tax structure. It gets us nothing and costs us nothing. Obama has referred to tax cuts, Republicans have referred to tax cuts, and Sanders, cited above, has referred to tax cuts, as have many other Democrats. How is it that Republicans so easily fall into the Democrats’ lexicon trap?
Nobody is getting a tax cut by extending Bush-era tax law! Those of us who pay taxes already pay way too much. The gaffe-prone Vice President, demanded that the “rich” be “patriotic…be part of the deal.” The top 1 percent of income earners pay about 40 percent of all income taxes. That is almost half of all income taxes collected in the US, Mr. Biden! Exactly how patriotic do they need to be?
The top 5 percent of income earners pay about 60 percent of all income taxes. That is over half of all income taxes collected in the U.S. Mr. Sanders! How much more do you want?
The top 10 percent of income earners pay about 70 percent of all income taxes. That is almost three-quarters of all income taxes!
The bottom half of income earners pay only 2.7 percent.
See all of this and more at http://www.taxfoundation.org/news/show/250.html
http://biggovernment.com/jmsimpson/2010/12/14/republican-tax-deal-proves-they-havent-learned-anything/
Extending the Bush tax provisions is a good start, but the Republicans need to get busy on an actual tax cut, ASAP.