Tax Cut Tomfoolery

Steve Benen reminds us of a forgotten detail: Bush’s tax policy was a failure. And that’s a handy thing to remember in the battle over the soon-to-expire tax cuts.

While we’re busily recalling important facts, here’s another: These tax cuts were set to end automatically by the very Republicans who are now complaining about their expiration.

And now, my latest three-verse limerick:

Tax Cut Tomfoolery
By Madeleine Begun Kane

Bush’s tax cuts are due to expire.
Their effects were quite bad — even dire.
The deficit climbed,
The economy slimed.
So why are the Dems under fire?

These cuts were a GOP plan
By the millionaire’s tax-cutting clan.
They promised a boost,
But the tax cuts produced
A big mess. Why should Dems be a fan?

Yet Republicans push and cajole —
More cuts for the rich is their goal.
They make stale, hollow claims
To bolster their aims —
No remorse for the good times they stole.

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2 Responses to “Tax Cut Tomfoolery”

  1. lordofflies says:

    no matter how often they play this game, we keep falling for it. Tax increases will kill the economy. If the rich are less rich, they won’t make businesses. Clinton proved this was bullshit.
    WHY does this keep working??

  2. Nancy says:

    lordoffllies should back up the comment. If he’s right, why is the economy in trouble now? Generalities are easy to say, but many things go into the mix. We don’t need anymore businesses in this current situation, as only the wealthy could afford to buy anyway, and there’s enough goodies out there already for them. The rich are getting richer, and the income gap is gotten bigger due to the tax cuts.
    Per Wikipedia:
    Some policy analysts and non-profit groups such as OMBWatch,[4] Center on Budget and Policy Priorities,[5] and the Tax Policy Center[6] have attributed some of the rise in income inequality to the Bush administration’s tax policy.
    If a family unit has money problems, one thing they can do is look into making more money; that’s what the govt. is doing, and those that can afford to pay more, are the wealthy, and that’s why they should be taxed. The middle class can’t afford to pay more taxes.