About Those Bush Tax Cuts for the Rich . . .By The Editorial Board NYT

[Demeter]

http://theboard.blogs.nytimes.com/2008/02/12/about-those-bush-tax-cuts-for-the-rich/?8ty&emc=ty




In unveiling his final budget this month, President Bush again called for making his tax cuts from 2001 and 2003 permanent, rather than letting them expire as scheduled at the end of 2010. That would be irresponsible.

The chart below, from the Center on Budget and Policy Priorities using data from the Congressional Budget Office, illustrates why the tax cuts have to go.








As the chart shows, the ratio of national debt to GDP is currently 37 percent.
All else being equal, if the tax cuts are made permanent — without making up for the lost revenue by raising other taxes or cutting spending — debt-to-GDP will rise inexorably starting after 2010, reaching 100 percent in 2035 and more than 200 percent in 2050. Courting debt loads of that magnitude implies severe economic distress.

MORE AT LINK--VERY INTERESTING!

[Demeter]

1. Wonder What It Looks Like If Iraq and Afghanistan Are Delineated, Too

[mwb970]

2. The goal of Republicans is to weaken and kill the American government

so that the corporations can take over and provide public service for profit. This is, of course, explicitly treasonous on its face, but who cares? They're Republicans, so they are allowed to rape our country whenever they want.

[ixion]

3. leaving just enough to fund the fascist police state

so they can sit behind their high, guarded walls while the rest of us get shipped of to the re-education camps they so lovingly built for us.

[ClintonTyree]

4. Don't look now....

but that's already happened. The United States of Corporate America has already been firmly entrenched and has no intention of EVER returning it's power to the citizens of this country. We live in Wal*Mart nation.

[sinkingfeeling]

5. Great chart! I'm printing it out and am going to carry it with me everywhere I go.

[Doctor_J]

6. 220%? That's more than a brazillion

I better learn to speak Chinese.

[Doctor_J]

7. I'm not worried. We can fix this by cutting Medicaid and privatizing SS

Since we have a Harvard MBA running the country, all will be well.

:crazy:

[RedEarth]

8. KR..... thanks for posting.....

[applegrove]

9. I'm so glad the NYTimes is doing a story on this. Very important. Thanks

for posting.

[nikto]

10. A little-known fact about "The Rich" that surely will come in handy...

...during the deprivations and shortages to come, is that:

Inside EVERY rich person is a large amount of good-tasting MEAT.

It may seem a Modest Proposal for Swift minds, but I say there are a number of
fine recipes that could be promptly created for
a soon-to-be-Hungry Nation.

In this way, The Elite could themselves be a solution to the
widespread public ravages created by the policies they have
foisted upon us with their use of Raw Power.

But, irony aside, I believe most will find The Elite
will likely taste better, PARBOILED.

[applegrove]

11. Okay. You are really against tax cuts for the rich. I get that now...

[nikto]

12. The tax cuts they've gotten...

have fattened them up quite nicely by now.

Got sauce?
:hippie:

========================================================================

"How many meals must a man chow down,
before The Elite is all gone,
The Answer, my friend, is passing with your wind
The Answer is passing with your wind"

BD's brother,
SBD

[Arctic Dave]

13. What do you think?

I think this graph might have something to with numb nuts shutting down the gov. website with the economical data. Can't find link, was posted earlier today.:tinfoilhat:

[Demeter]

14. That Would Be So Responsive of the Regime

Not outside the realm of the possible. But futile.

[minnesota_liberal]

15. You have something against RED?

Some people would say that graph looks better with a bit of color.

:sarcasm: