Fiscal Bluff Shows Addiction to Bush Tax Cuts
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
Both Republicans and Democrats love the Bush Tax cuts like Augusto loved Willy Wonka's Chocolate river
98% of the Bush Tax cuts are being protected by a party that has always bad mouth the Bush Tax Cuts.
Revenue gained from raising taxes on the 2% 80-83 Billion a year
(White House numbers)Revenue gained from raising taxes on the rest 283 Billion a year
(White House Numbers)So, it's too expensive to keep something that cost us 837 billion in revenue in 10 years
However, it's not expensive to keep something that cost us 2.8 Trillion for 10 years.
and you wonder why we are in this current situation.
I call it the theory of using recycled money to solve all of our problems. That extra 83 billion a year, which to me is a very generous amount is going to promote so much growth and investment that all the ill worries of Globalization, Technology, Debt and Demographics will go away
Logan Mohtashami is a senior loan officer at his family owned mortgage company AMC Lending Group, which has been providing mortgage services for California residents since 1988.