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.
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: