Tag Archives: Bush Tax Cuts
Guess they really, really should have read that study
The Republican National Committee really wanted to stick it to Democratic legislators for that time they totally punted on holding a vote on the future of the Bush-era tax cuts. And so, they armed themselves with a shiny new study from the Tax Foundation that they thought really aided their criticism. “What excuse will the Democrats use now?”
As it happens, the study compared the actual Dem plan with the GOP one. And it found that for a family of four with an income of $40,000, the Dem plan — continuing the low end tax cuts, plus the stimulus measures — would cause a 7.8 percent jump in after-tax income. That jump would only be 6.8 percent under the GOP plan to continue all the Bush tax cuts.
Filed under Economics, Financial Rules & Regulations, Republicans, taxes