Wednesday, December 8, 2010

Tax Double Standard Reasoning



Her reasoning why tax-cut for the rich is good and why tax-cut for the middle-class isn't good.

BACHMANN:[W]e’re pleased to see that we’re looking at a two percent reduction in the payroll tax, what we normally call the Social Security tax for employees. … What this will mean is a decrease in revenue for the Social Security Trust Fund. That will, again, add to the deficit going forward. So both of these measures that President Obama is proposing will actually have a cost towards increasing the deficit.

KELLY: Is it worth it to you though, to give the president the things that he’s asked for, like the extension of unemployment benefits, in order to preserve tax cuts for all Americans? [...]

BACHMANN: It’s curious to me that they say there’s a cost involved when people are allowed to keep their own money. And they’re talking about Americans being able to keep $700 billion of their own money. The cost is to the Treasury, but really it’s a cost out of the American peopeles’ pockets. So that’s a definition of terms.

The real cost will be in the outlay of unemployment benefits and in the reduction to the treasury in the Social Security taxes.

http://thinkprogress.org/2010/12/08/bachmann-tax-double-standard/

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