Boozman plan serves the rich first | Arkansas Blog

Thursday, July 8, 2010

Boozman plan serves the rich first

Posted By on Thu, Jul 8, 2010 at 2:49 PM

Sen. Blanche Lincoln's campaign has begun issuing a blizzard of words about the weaknesses in opponent John Boozman's plan to stabilize the economy. Doesn't mean she's not right in saying Boozman would correct the budget on the backs of farmers and the unemployed, while saving government's tender mercies for the rich. For example, she's nothing but right about Boozman's desire to extend tax cuts for the wealthy:

Extending Tax Cuts For Wealthiest Would Add $826 Billion to Deficit. Extending the tax cuts for the top 2 percent of U.S. households would result in deficits and debt $826 billion higher over the next 10 years then if those cuts are allowed to expire. [CBPP,4/1/2010]

Tax Cuts for Wealthy Much Less Effective Stimulus Than Extending Unemployment Benefits. According to an analysis from the nonpartisan Congressional Budget Office, extending the 2001 and 2003 tax cuts for high-income households would be the least effective way to stimulate growth and job creation, behind measures such as extending unemployment insurance, providing tax incentives for hiring and investing in the country's infrastructure. [CBPP, 4/1/2010]

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