The impermanence of President Bush's tax cuts were the best part about them

Edwards wants to repeal them right now.  Obama has already spent them.  Does anyone remember what the allowing the Bush Tax Cuts to come back to life would mean?  George Will:

The five income tax brackets (10, 25, 28, 33 and 35 percent) will be increased 50, 12, 10.7, 9.1 and 13.1 percent, respectively, to 15, 28, 31, 36 and 39.6 percent. The child tax credit reverts to $500 from $1,000. The estate tax rate, which falls to zero in 2009, will snap back to a 60 percent maximum, and exemptions that have increased will decrease. The capital gains rate will rise, and the marriage penalty will be revived, as will the double taxation of dividends.

Dem's & Lefties have been moaning about the "tax cuts for the rich" for so long now that alot of folks just believe it.  But if you look at that paragraph above, there's a really good chance that you're in it.  YOU, my friend, and your friends and neighbors, are going to get creamed if the Bush Tax Cuts are allowed to expire. 

And the Democrats have all publicly and repeatedly condemned the Bush Tax Cuts.

Have a kid?  Are you married?  Do you have a job?  Are you going to inherit anything in the next couple of decades?  Own stocks or mutual funds?  Have a pension?  Or do you plan on having any of those happy conditions at any time in your life?  If you answered "yes" to any of those questions, then the Dem's have promised to increase your taxes.  There is no doubt that they would make good on such a promise.  They will try to sell it as taxes for the rich, but me and the rest of us on the Right will be here to let folks know how they're being swindled. 

You can count on us.

There's a lot the President has not done to my satisfaction, but this time-delayed IED of expiring tax cuts is one of his greatest tricks.  It is going to go off right under the up-armored HUMVEE of the Democrat campaign.  I love it when a plan comes together.

Comments

[redpill]

Hello again!

The problem with looking at the tax cuts from only one side of the ledger is that you're not addressing the fact that Bush didn't cut spending. so the cuts were an illusion. We're just borrowing the money to pay for them.

If not a repeal of the tax cuts, how do you propose balancing the budget because Bush sure doesn't know how? Or do like borrowing money from the Chinese?

[pedro]

Well, not exactly. You're forgetting the Laffer Curve.

If you cut taxes and tax revenues go up, as they did with the Kennedy, Regan, and Bush tax cuts, then you're not borrowing from the future. Rather, you're moving toward the sweet spot on the Laffer Curve.

Also, keep in mind that the deficits are fairly low.

As to how I'd balance the budget, that will have to be a subject for another day.