If the 2001 tax cuts expire, as they are set to in 2010, then the marginal tax rates for American taxpayers in the lowest income bracket will increase by 50%. “Tax cuts for the rich”…..right. More here.
One of the biggest failings of fiscally conservative politicians is their complete inability to articulate and defend tax policy against populist demagoguery. In an honest, fact-filled debate minority Republicans should be able to destroy Democrats if they attempt to allow the tax cuts to expire. But if Democrats stay in power, I’m not optimistic.
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