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Senior Contributor

Another good Dem

Sen. Kerry docks yacht in R.I., saves on taxes Lawmaker saves $500k in taxes on $7 million yacht

 

http://www.msnbc.msn.com/id/38378992/ns/politics/ 

2 Replies
Senior Contributor

Re: Another good Dem

http://www.bloomberg.com/news/2010-07-23/bernanke-says-extending-bush-tax-cuts-would-maintain-stimul...

 

The rumblings are getting louder for Congress to extend or make permanent the Bush tax cuts. I thought tax cuts do nothing but let the rich keep more of their hard earned money? The story says it will help bring us out of the recession. How can that be? Interesting. More like fascinating. It is an election year. Is that the reason?

Veteran Advisor

Re: Another good Dem

I personally can not understand how taking in less tax could ever end up collecting more tax. It sort of sounds like eating the cake and expecting there to be more cake on the plate when you come back for the next serving.

Cutting taxes when the economy is in a downturn seems like a way of stimulating the economy but you have to collect that money when the economy resumes. Plus interest!