When are tax cuts a bad thing?

When they pile on additional spending with no offsets, that’s when. The bill to extend the Bush tax cuts sailed through the Senate this week and is scheduled to be voted on in the House today. However, it is meeting with bipartisan resistance. Because of its very short-term nature, it does not create market certainty….

Poor hurt the most by expiration of Bush tax cuts

Poor hurt the most by expiration of Bush tax cuts

On Jan 1st, the Bush tax cuts are set to expire. The child tax credit will be cut in half, the standard deductions and income credits decrease and the 10 percent tax bracket – aimed at non-wealthy taxpayers – goes away. While wealthier taxpayers pay more in taxes and stand to lose more in total…