CBO: Ending High-Income Tax Cuts Would Save Almost $1 Trillion

[phkrause]

The Congressional Budget Office’s (CBO) new report shows that allowing President Bush’s 2001 and 2003 income tax cuts on income over $250,000 to expire on schedule at the end of 2012 would save $823 billion in revenue and $127 billion on interest on the nation’s debt, compared to permanently extending all of the Bush tax cuts. Overall, this would mean $950 billion in ten-year deficit reduction, a significant step in the direction of fiscal stability....

http://www.offthechartsblog.org/cbo-ending-high-income-tax-cuts-would-save-almost-1-trillion/

[bonnie]

The Congressional Budget Office’s (CBO) new report shows that allowing President Bush’s 2001 and 2003 income tax cuts on income over $250,000 to expire on schedule at the end of 2012 would save $823 billion in revenue and $127 billion on interest on the nation’s debt, compared to permanently extending all of the Bush tax cuts. Overall, this would mean $950 billion in ten-year deficit reduction, a significant step in the direction of fiscal stability....

http://www.offthechartsblog.org/cbo-ending-high-income-tax-cuts-would-save-almost-1-trillion/

If there are no real,meaningful cuts now instead of over a ten year span,there will never be cuts that mean anything.

Spending more and more as we are doing is a funny way to reduce anything

Obama doesn't mean the same thing most normal people do when referring to lower spending and deficits.

The way he saves is the rise in insurance premiums almost equivalent to the reduction of the 2500.00 he claimed

Or pricing many companies out of business so they won't be paying his taxes..

But their idea of helping the economy is food stamps