Friday, November 12, 2010
Tax Cut Color By Number
This is what extending the Bush tax cuts will look like by annual income. The numbers get very sweet and red for those earning more than $500,000 per year, and absolutely juicy for those earning more than $1,000,000 a year. The tax cuts for the wealthy will take $700 billion in revenue from the operating income of the United States. That looks like this: $700,000,000,000.00. Shouting DEFICIT REDUCTION while demanding the tax cuts be extended is like shouting FIRE! in a crowded building while pouring kerosene on the flames.