I disagree with Hightower.

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Tuesday, December 18, 2012

Those spending cuts

For those of you who don't know the highest income tax rate being paid right now is 35%.  What would you think about it if the Speaker offered to count the income that is coming in from between 31% and 35% as a tax hike?

I'll bet you would agree that that little hypothetical was laughable.  The next one is not a hypothetical.

For those who do not know the interest rates that the government is paying right now are very low.  According to the PBS Newshour 12-18-12 the president is offering the interest that we don't have to pay because of those low rates as part of his spending cuts.

PBS noted it, but they didn't laugh.

1 comment:

  1. I am assuming that by not laughing the NPR personalities were giving tacit acceptance of that as a legitimate spending cut?

    Also in the shake your head category is that Boehner has agreed to tax RATE increases on those making over 1M/year. Obama insists on rate increases for those making over 400K. While the difference in the two proposals is very significant to the impacted tax payers the difference in tax revenue for the Government is absolutely trivial in the big picture.

    In a past post didn’t you say something about people needing to be “switched”? Switched as in “spanked” not “swapped”.