December 7, 2010

The figures behind the fight

Extracted from a good analysis by Michael Scherer of Time:


GOP wins

$75 billion - Cost of extension of tax cuts for the wealthy.

$43 billion - Cost of estate tax change

$118 billion - Total of Obama's giveaway to GOP

Democrat wins

$120 billion - One year cut in payroll taxes

$58 billion - 13 month extention of unemployment benefits

$40 billion - Tax fredits for student and for parents with children, plus a number of business tax breaks.

$206 billion - Total of Obama's side of the deal

$85 billion - Net gain for Obama's side


Overall

$324 billion - Net cost of negotiated items

$787 billion - 2009 Stimulus package

4 comments:

Anonymous said...

The $120 billion from the payroll tax reduction is not a win for the Democrats. It s actually a wedge that the Republicans will use to destroy Social Security. They will demagogue the payroll tax the same way that they have Medicare spending limits and the tax cut issue, and spineless Democrats will allow the payroll tax reduction to continue until it undermines the stability of Social Security, which has bee a Republican goal for the past 75 years.

m said...

Double 9:24

Anonymous said...

People are crapping on Obama for giving away $118 billion in tax cuts. Meanwhile there's no debate about the Democrats pushing for another $153 billion in war appropriations.

Anonymous said...

War good. Guns good. Show world we strong. Kill evil raghead. Shoot wetback. Need war.