The retention of 98 percent of the Bush tax cuts by the most liberal president to hold office reminds us that a mere four years after leaving office, George W. Bush has a legacy that is becoming more impressive with time.
Kevin Hasset of the American Enterprise Institute puts it this way: "After everything settles, people of both parties will have to agree that this was a big win for Bush. Almost all of Bush's favored tax policies have become a permanent part of the tax code. The top rate is higher, but marginal tax rates on 'rich' people with incomes below $400,000 are even lower than they would have been if Bush's tax cuts had never passed."
He emphasizes: "It is especially important that dividends will probably never again be taxed as ordinary income. Even Republicans in the House were against Bush's dividend tax proposal to begin with. Now, even Democrats agree that dividends should be taxed less."
So much for Warren Buffett's secretary. --
WaPo
6 Comments
bmacs27says...Man I hate Cenk. In almost every one of those clips Obama was promising not to raise taxes on people below $250k. I think in only one did he allude that all income above $250k would be taxed more. He thinks he's being all edgy by hating on the guy. Really he just looks like a jackass.
albrite30says...All right Cenk. We get it. Thanks.
Yogisays...Fun fact...Nixon was our last Liberal president. You don't learn shit in school kids
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radxsays...*discard
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