Tuesday, August 31, 2010

Boehner's fuzzy math

The Hill calls out John Boehner for nonsensically proposing to balance the budget by cutting taxes on the wealthy:

Most of the budget savings from House GOP Leader John Boehner’s proposed spending cuts would be canceled out by the extension of upper-income tax cuts also backed by Republicans.

...The proposal backed by Boehner and top Republicans would extend the expiring tax cuts for all taxpayers, including those making more than $200,000. That would cost about $3.7 trillion over the next decade — $3 trillion for the middle-class and low-income earners, and another $700 billion for wealthier taxpayers.

“Doing what the Democrats want to do with taxes, will save somewhere between $700 billion and $900 billion, which is more fiscally conservative,” said Roberton Williams, a Tax Policy Center senior fellow.