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Politics & Current Affairs

Allow Tax Cuts To Expire

“Extreme inequality in the U.S. is the result of tax-cutting ideology, which showers largesse on the GOP’s deepest-pocketed supporters.” Yale and Berkeley political science professors weigh in.

“Most economists agree that extending Bush-era tax cuts for the highest-income Americans would do little to stimulate the economy. The nonpartisan Congressional Budget Office recently ranked extending the 2001 tax cuts last among 11 options for creating employment. It noted that even within that option, extending tax cuts for the rich would be the least helpful tax-cut extension, because wealthy people would be likely to bank their tax savings rather than spending them. Good ideas for putting Americans back to work are running into a wall of congressional opposition in the face of deficit worries. Yet the same members of Congress who denounce deficit spending are ready to find vast sums for the idea that ranks dead last.”


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