Paul L. Caron

Friday, July 30, 2010

Bartlett: Keep the Bush Tax Cuts for Now

Bruce Bartlett (The Fiscal Times), Keep the Tax Cuts for Now:

Congress could have used the expiration of the Bush tax cuts to reform the tax system, but extending the tax cuts may be the only viable option for now.

News, Tax | Permalink

TrackBack URL for this entry:

Listed below are links to weblogs that reference Bartlett: Keep the Bush Tax Cuts for Now:


A better approach would be to let the Bush tax increases go into effect for the wealthy (Those with AGI over $1 million pay aggregate federal income tax of less than 20% these days, according to this blog.) Use the money to pay for a payroll tax cut.

I think I agree with this much; the dangers of running a contractive fiscal policy outweighs the dangers of a financial run caused by high deficits. Its certainly debateable, though.

I've seen this same nonsensical argument pop up all of a sudden in a lot of different contexts: "Even if the tax cut was a policy mistake from the get-go, we must maintain it for the sake of predictability."

Maybe the GOP should quit blasting the president about deficits if they want him to extend huge deficit-increasing tax cuts to them. Its tacky.

Posted by: jimharper | Jul 30, 2010 12:14:06 PM

No one pays attention to Bartlett. He blows in the economic wind like a cheap kite.

Posted by: Jake | Jul 30, 2010 7:21:45 PM