This week, President Obama said we cannot afford the $700 billion cost to extend the Bush tax cuts. Here is your Cheat Sheet to the competing opinions:
The Bush Tax Cuts are Not Responsible Economic Policy
We cannot afford to “borrow 700 billion dollars from our children and investors around the world so that we can afford to extend these tax cuts for the most fortunate two percent of Americans,” said US Treasury Secretary Timothy Geithner to Fox Business. “There are much, much more effective things we can do to help businesses get people back to work, like passing these tax incentives for businesses across the country.”
Get Ready for a Double-Dip
Ending the Bush Tax Cuts “will encourage debt finance over equity finance, reduce the payment of dividends to investors, and also hold back much needed investment capital,” said The League of American Voters. If we do this now, the double-dip is guaranteed.
What do you think about the Bush Tax Cuts? Share your thoughts in the comments below …