ABC News Explains What The Tax Cuts Extension Means

In Reality World, the article would be extraordinarily short, with the full text reading something like

What do the Obama tax cuts extensions mean for you? Nothing. Nothing is changing. Thanks for stopping by ABC News.

And, yes, ABC News did actually entitle the article the “Obama tax cuts extension” at some point. Check the way the permalink reads. Anyhow, they really work the spin in Obama’s favor

When President Obama officially extended tax cuts enacted by his predecessor in a Rose Garden ceremony today, he ensured the average American will pay about $2,000 less in taxes per year for the next two years.

What, is this the Democratic Underground or some other unhinged Lefty site, where they can’t even write Bush’s name? You know if they were mentioning “tax cuts for the rich” they’d mention his name. Furthermore, no one is going to pay anything less. They are going to be paying the same amount they’ve been paying for almost a decade.

The tax cut extension means big bucks for the super-rich. LeBron James, who makes $14.5 million each year, will save more than $600,000 in taxes for this year. A family making $100,000 per year will pay about $6,000 less in taxes than if the tax cuts had expired. The average savings for all Americans, according to the non-partisan Tax Policy Center, is about $2,800.

So what? He’s the one who earned it. Well, based on the way the Heat are playing, maybe not, but, it’s still his money.

While Americans will have less money taken out of their paychecks by Uncle Sam the next two years, the tax compromise will result in lost revenue to the government of between $450 and $600 billion in 2011. That will be added to the nation’s $13.8 trilllion deficit.

Well, then they will just have to make do. It’s not theirs. They can cut back and spend wisely, like the rest of us do.

Of course, the bill will also add $900 billion to the nearly $14 trillion national debt, money that future generations will be responsible for paying back.

ABC News’ Jake Tapper, Sulen Miller, Bradley Blackburn, Alan Farnham and the Associated Press contributed to this report.

Interesting. They weren’t all that concerned with what all the Obama era legislation and spending would do to the national debt, nor that future generations would be responsible for paying it back.

Crossed at Right Wing News and Stop The ACLU. sit back and Relax. we’ll dRive!

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3 Responses to “ABC News Explains What The Tax Cuts Extension Means”

  1. John Ryan says:

    Yre the elites of Wall Street and Hollywood are in festive celebration over having their tax cuts extended.

  2. gitarcarver says:

    Once again from Ryan’s quote we see the class envy of the left.

  3. captainfish says:

    Why does my head spin and I feel sick to my stomach every time I read news from the old MSM, esp Tapper?

    I got to hand it to the Repubs this time in that they didn’t cave under the “evil Republican” onslaught by the Dems and the old MSM. I just with they would have towed the line harder when it came to the attached subsidies and earmarks.

    What sucks is that the Repubs are going to be the bad guys for saving America’s economy over the next 2 years. May cost them the election for doing what’s right.

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