If you’re a republican who believes that the the discontinuation of the Bush tax cuts will be a tax increase that will stagnate the economy, Robert Reich will destroy you.
This article shows why exactly the Bush tax cuts should not be extended for the rich, and also proposes that we create a new tax cut for the lower-income residents of the United States/.
Reich claims that by not extending the tax cuts, the government will take 36 more billion dollars, $31 billion from billionaires.
If the government does indeed use its tax revenue to build and create services that benefit the poor sector of the United States, it will act just like Robin Hood, and greatly even the income distribution.
Reich goes out to say that if we use this opportunity to create another tax cut for lower income citizens, we will stimulate the economy and create more jobs and more business opportunities, creating a faster recovery from the recession that we would have with extended Bush tax cuts.
