Some are saying that cutting taxes for "millionaires and billionaires" will cost $700 billion over the next 10 years. The problem is nobody is debating actually cutting taxes and certainly not just for millionaires and billionaires. Right now the debate is whether to raise taxes or keep them the same. And with the economy in such trouble right now, why would we want to raise taxes on anyone?
Did you forget the sunset provision in the tax cut? The 2001 tax cuts were intended to end by the end of this year, as per Bush's proposal.
So yes, extending them past January 1, 2011 will COST money!!!
Junko450 1 year ago