Saturday, December 15, 2012

Boehner Offers to Let Bush Tax Cuts End for Incomes above $1 Million in Exchange for Even More Tax Increaes

CNN is reporting that House Speaker John Boehner has offered to let Bush tax cuts end for incomes above $1 million in exchange for spending cuts, tax reform, entitlement reform.

What this boils down to is Boehner calling for an increase in taxes for those earning over a million dollars in exchange for even higher taxes elsewhere, since "tax reform" is code for more taxes determined on a different line on tax forms.

The spending cuts are bogus. They will only start above built in baseline increases. There might actually be some entitlement "reform" since that means cutting revenue set to go to the masses. But, for the most part it is straight out increases in taxes as a trade for increases in other taxes.

Helluva a guy, this Boehner.

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