On Wed, 4 Aug 2010 05:34:24 -0400, "Charles C."
wrote:



"jps" wrote in message
.. .


Their plan to invigorate the economy is to give even bigger tax cuts
to the rich. Great plan, eh? Didn't work so well the first time but
maybe if we make the cuts even bigger, it'll have a better effect.


Who is proposing "bigger" tax cuts?
All I've heard about are proposals to extend the Bush tax cuts.

Oh no, they want to make 'em bigger!!!!

From Huffpost:

After opposing, stalling, stonewalling and filibustering almost every
recession-related bill for the past year, Republican lawmakers have
finally proposed a jobs plan of their own: a bigger, more expensive
version of George W. Bush's tax cuts for the rich.

The Economic Freedom Act of 2010 -- introduced by Reps. Jim Jordan
(R-Ohio) and Jason Chaffetz (R-Utah) -- proposes deep tax cuts
favoring the wealthiest in America, a reduction in regulatory
oversight and the elimination of a federal tax on the estates of
millionaires, which will allow wealthy investors to escape taxes
entirely on a significant portion of their income.

Republicans say the bill will create jobs where President Obama's
policies have failed to do so.

"The multi-trillion dollar government stimulus programs and
taxpayer-funded bailouts have failed," reads the bill's official press
release. "A growing private sector economy is the only 'stimulus
program' that will create the jobs needed to restore America's
economic strength."

House Majority Leader Steny Hoyer (D-Md.) said in a conference call on
Tuesday that the GOP's proposal will not only fail to stimulate job
growth, but will triple the deficit by 2015 and devastate an
already-shrinking American middle class.

"The tax cuts they want to give, as usual under Republican policies,
will give 62 percent of the tax cuts to the top 1 percent of
Americans," Hoyer said. "Or said another way, an average $467 tax cut
to working Americans in the middle of the income levels, and to the
top 1 percent earners, an average of $157,000 tax cut, and to Goldman
Sachs, $2.6 billion in tax cuts. When you analyze that, you know what
is happening is the same old Bush policies of advantaging the wealthy
at the expense of the middle income working people and tax cuts which
did not, as they were advertised to, grow the economy and grow jobs.
In fact, they did just the opposite."

Michael Linden, associate director for tax and budget policy at the
Center for American Progress Action Fund, said the Republican proposal
is "unaffordable on a level we've never seen before."