Obama Tax Cuts - Worse Than Bush Plan?

"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 $400000 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."* From the way Obama acted, you would think he landed a compromise, if not a victory, in negotiating the fiscal cliff deal. Or, did he ratify the Bush plan? Cenk Uygur breaks down the losses and wins. *Read more from Jennifer Rubin/ Washington Post: www.washingtonpost.com Support The Young Turks by Subscribing bit.ly Support The Young Turks by Shopping bit.ly Like Us on Facebook: www.fb.com Follow Us on Twitter: bit.ly Buy TYT Merch: theyoungturks.spreadshirt.com Find out how to watch The Young Turks on Current by clicking here: www <b>...</b>
Author: TheYoungTurks
Duration: 14:26



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Obama Tax Cuts - Worse Than Bush Plan?