Cost-benefit analysis of tax cut extension for the wealthy

by Ben Hoffman

Costs of extending the Bush tax cuts for the upper 3%

  • $690 billion in reduced federal revenues
  • An additional $140 billion in interest on the federal debt.
  • The U.S. will have to borrow that money from other countries and much of those interest payments go to oppressive regimes such as China and Saudi Arabia
  • The U.S. loses leverage when negotiating with other countries because we are beholden to them.
  • Future “temporary” bills will lose credibility

Benefits of extending the Bush tax cuts for the upper 3%

  • Wealthy get to keep more of their money.
  • Right-wingers get to feel good about their ideology
  • Political candidates who support the extension can expect contributions from the wealthy for helping them get richer.

Looking at the costs and benefits we can see that all the costs come at the expense of our country and our country receives no benefit in return. So you have to ask, “is it good for America?” The answer is a resounding NO.

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One Comment to “Cost-benefit analysis of tax cut extension for the wealthy”

  1. Let’s see…BULLSHIT, tax breaks create jobs and the employed pay in taxes, the unemployed pay nothing.

    If I have to pay more in taxes I fire 100 employees and you support them mr lefty winger.

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