Tax Cuts Explained, With Graphs, For America

Republicans are in full attack mode on the Bush Tax Cuts (set to expire at the end of this year by Republican design in order to get around budget reconciliation rules) and it has been interesting to see how far their heels are digging in. To hear them tell it, letting them expire as planned will be akin to a hundred million atomic bombs being dropped on every business in America. Well, ok, that’s a bit hyperbolic. Actually they’re saying that businesses won’t hire and calling the expiration a ‘tax hike’. In any case, leaving aside the fact that Big Business isn’t hiring now despite sitting on literally mountains of cash, let’s just look at what exactly the Republicans would like to see happen:

Comparing Dem and Rep Tax Plans

That’s right. While Obama would like to keep the tax cuts in place for those making less than $250, 000 and let them expire for those above the threshold, Republicans would like to hand out giant checks to their rich buddies and never mind all that whining about the deficit, which is exactly where all that lost revenue goes. Of course, in the interest of sucking up to the über-wealthy, they’re very likely to block the expiration for the rest of us peons. Steve Benen does a much better job gathering the quotes and info to further make the case, but I think the graph does a pretty nice job on its own.

It’s really simple, America: Democrats want rich people to pay a fairer share and Republicans want to shower them with more riches at our expense. Please vote accordingly.

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