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No, it wouldn’t. It would be disastrous. But that’s what anyone who suggests that we could close the deficit by simply following current law is advocating. (Doing so would entail allowing all the Bush-Obama tax cuts to expire, letting the AMT hit 20 million households, and cutting Medicare payments to doctors by one-third.)

View all comments (12) |

LarryK| 9.2.11 @ 8:42AM

Tax hikes are permanent.
Tax cuts are temporary.

Ammo Guy| 9.2.11 @ 9:39AM

Or to put it another way - tax hikes are real, tax cuts are evanescent.

Wayne | 9.2.11 @ 12:14PM

And Budget cuts are not cuts.

Stan| 9.2.11 @ 1:20PM

Of course that's not always true, ask Reagan and Bush. But, it certainly is Tax hikes are easy, tax cuts are hard.

Shamus| 9.2.11 @ 9:29AM

Greenspan is on record as supporting the expiration of the Bush tax cuts. There's no doubt that it would harm the economy, but the effect would be mild when compared to Obama's war on business.

Wayne | 9.2.11 @ 12:16PM

Greenspan is probably more guilty of the housing collapse than anyone in America. He needs to be put into an old folks home to play bingo.

Timothy L. Pennell| 9.2.11 @ 10:52AM

Please explain to us, how, giving more money to Shopaholics, will do anything to help the situation.
Tell us where all of the Social Security Money is. We gave them the Money. Where is it?
Tell everyone where ALL of the Stimulus Money went. Where is the $20 BILLION that BP gave to that THING in the White House? Tell us why the Roads and Bridges are in a shambles, when we pay GAS TAXES on every gallon that we purchase. State AND Federal Gas taxes. Why are the Schools always looking for Money? Wasn't the LOTTERY gonna take care of that?
We give Government LOTS of money. We pay Specific Taxes, for Specific uses. We do our part. We are NOT the problem. They are.
This could all be rectified, by making these Sticky Fingered CROOKS, who make up our Federal, State, and Local Legislatures, put these Monies where they TOLD US they were going to, and use it, for what they TOLD US they were collected for.
This can all be explained in 2 Words: GENERAL FUND. Or, Cookie Jar.
Same thing.

LiveFreeOrDie| 9.2.11 @ 12:55PM

Thank you! I would have said same but you've beat me to it.

Stan| 9.2.11 @ 1:24PM

As conservatives we need to change the discussion from tax rates to revenues.

Revenues have been shockingly consistent, they keep begging for more money as if the government has "lost its job". When in fact it still has the same income. Yes, some expenses have skyrocketed, others have dropped.

I think Americans would look at this differently if they came to us with an immediate change to SS and Medicare, immediate cuts. Then said we need to fund these unfunded liabilities we need to charge more for SSI and Medicare. But they are as the other poster said "Shopaholics" and can't be trusted.

Wayne | 9.2.11 @ 1:30PM

Obama stupidly agreed to a 2 year extension, making this a pivotal election issue. Sure he will spin it for millionaires and billionaires. But that line isn't working for him. He has to be careful not to make himself look as radical as he really is. This is the Obama dilemma.

yisong| 10.25.11 @ 10:06PM

Slewing ring : a novel rotary products, also commonly called a slewing bearing slewing bearing, usually by a worm, shell, motor and other components. http://www.1stbearing.com

yisong| 10.27.11 @ 9:48PM

compact in design,and light in weight.The balls contact with the circular race at four points,via which the axial force,radial force and resultant moment may be born simultaneously. http://www.1stbearing.com

More Blog Posts by Joseph Lawler

http://spectator.org/blog/2011/09/01/would-a-one-year-750-billion-t

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