I'm not sure why this topic is being debated. In 1993 we saw Republicans cry from the rooftops that the Clinton tax hikes would wreck the economy and lead to a sever recession. Needless to say that turned out not to be true. In fact the results turned out to be quite the opposite of those dire predictions. Likewise Bush made many claims that his tax cuts would lead to a robust economy and we all saw how that turned out.
Moral of the story: conservatives base their economics on faith not facts. For them tax cuts are a religion. Believe your eyes and what we have seen for ourselves in history, not conservative rhetoric. Conservative economics is a record of failure except for those at top. It has nothing to offer the average person but falling wages and greater economic insecurity.
Why didn't Obama let the Bush tax cuts sunset if they're so terrible?
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/16/AR2010121606200.html"In remarks before signing the bill, Obama called it "a substantial victory for middle-class families across the country." He added: "They're the ones hardest hit by the recession we've endured. They're the ones who need relief right now."
Obama described the bill as "a package of tax relief that will protect the middle class, that will grow our economy and will create jobs for the American people."
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