Monday, August 2, 2010

Greenspan Warns Against Continuing Bush Tax Policy

Economic violence is violence, and the massive redistribution of tax burden onto the shoulders of the middle class via the Bush tax "cuts" was a punch to the gut of the majority of Americans.  Of all people, Alan Greenspan (often in the past a proponent of similar sorts of economic violence) recently warned against continuing the Bush tax policy (as the GOP would like to do, despite their caterwauling about deficits). 

Another good article on the issue by Fareed Zakaria can be found here.

And here's a graphic representation of what happens to the debt if the tax cuts for the wealthy are extended without offsetting cuts.


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