J.E.D
Gold Member
- Jul 28, 2011
- 14,159
- 2,229
- 280
- Banned
- #1
Remember the Bush tax cuts that weren't paid for? Republicans in DC and across this nation insisted that tax cuts don't have to be paid for; that tax cuts don't add to the deficit. Those of us that have a little common sense shook our heads in disbelief at that notion while their loyal base eagerly lapped up the GOP talking points and repeated them as gospel.
Well, sorry cons, but the jig is up. None other than Mitch McConnell admitted what we already knew - that tax cuts do in fact add to the deficit.
Well, sorry cons, but the jig is up. None other than Mitch McConnell admitted what we already knew - that tax cuts do in fact add to the deficit.
Senate Republican Leader Mitch McConnell said Tuesday that Republicans are working on an alternate proposal for extending the payroll tax cut, and predicted that, at the end of the day, "the House will insist that as we extend this payroll tax relief for individuals only for another year."
McConnell, speaking to reporters at a press availability, declined to provide details of the Republican bill, other than to say it would "be paid for in an acceptable way that does not adversely impact job creation."
"In all likelihood, we will agree to continue the current payroll tax relief for another year, but we believe that it should be paid for," the Kentucky Republican told reporters.
~snip~
McConnell said Tuesday that it was necessary to pay for the tax cuts because "with this $15 trillion debt we now have, bigger than our economy, we need to be paying for a measure like this that's temporary."
McConnell: GOP working on alternate proposal for payroll tax cut extension - Political Hotsheet - CBS News