[Chongo]

google Economic Growth and Tax Relief Reconciliation Act of 2001

[The Crook]

Originally Posted by Chongo 

in order for BO to cut anyone's taxes, he has to make the current rates permanent, then lower them, if he actually does. Even if BO does lower rates for 95% of the people, 40% of those who pay no taxes to begin with, the rates will automatically go up in Jan 2011, negating his "tax cut"

Here's the deal:

That may be true *if and only if* Congress enacts no new tax legislation before the sunset provisions take effect. A new tax law would trump the old tax law, so that Obama really would cut taxes on 95% of Americans.

[Chongo]

Originally Posted by The Crook 

Here's the deal:

That may be true *if and only if* Congress enacts no new tax legislation before the sunset provisions take effect. A new tax law would trump the old tax law, so that Obama really would cut taxes on 95% of Americans.

The new tax law still has to make the current rates permanent. Otherwise were back to calling a decrease in the increase a "cut", that or BO is calling making the Bush tax cuts permanent a cut. That still falls under a decrease in the increase.