Explain this to me, lefties.

[MARIS61]

When the Bush tax cuts expire, the people you sold homes to will have $2200 (on average) in tax increases.

Blatantly false.

 

[MARIS61]

As I wrote about earlier, in my post about GDP growth...

With GDP growing at just 1.5%, the tax cuts expiring would be a ~4% hit to the economy, and would certainly cause an immediate recession. They do have to act in some form.

Your chicken little act is getting awfully old.

Try the glass half full approach. All that tax revenue will reduce the deficit.

 

[Denny Crane]

Believe Maris, or believe the CBO? Not a tough choice. Hey Maris, with $500B in tax hikes and only about $50B of that hitting the rich Obama wants to tax, guess who's going to be paying the remaining $450B?

http://in.reuters.com/article/2012/08/22/usa-debt-cbo-idINL2E8JM38320120822

U.S. CBO sees worse economic wreckage from "fiscal cliff"

The "fiscal cliff" refers to the impact of around $500 billion in expiring tax cuts and automatic spending reductions set for 2013 as a result of successive failures by Congress to agree on some orderly alternative method of reducing budget deficits.

Failure to avoid it would spark U.S. fiscal tightening on a scale not seen since 1969 tax increases to pay for the Vietnam War -- slamming the economy into recession as it did back then.

The CBO estimated that U.S. gross domestic product under this scenario product would shrink 0.5 percent in 2013, with a crushing first-half contraction of 2.9 percent followed by a weak second-half rebound of 1.9 percent growth.