“Kahn projects that a kick the can deal will increase taxes by $530 billion. Specifically, he sees strong support for an end to the payroll tax cut, an end to Bush tax cuts, and broad support for short-term ‘tax extenders.’  On the spending side, no further extensions of unemployment and a cut in Medicare payments (the doc fix). Total spending cuts $170 billion. Got that? Tax increases of $530 billion and cuts of only $170 billion. In other words, the ‘kick the can deal’ is a huge tax increase. They are set to scare the public and then take more money out of their pockets.”

http://www.economicpolicyjournal.com/2012/11/how-going-over-fiscal-cliff-will-affect.html

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy