via POLITICO - TOP Stories by <a href="http://www.politico.com/reporters/DylanByers.html" rel="nofollow">DYLAN BYERS</a> on 11/9/12
The columnist argues that Republicans have been lied to by a "conservative entertainment complex."
The motivation for this blog is Jon Stewart's description of Fox News during episode #17153, aired on 9/19/2012 ___________________________________________ (See entry on this blog: http://bullshitmountain.blogspot.com/2012/09/bullshit-mountain.html). It is devoted to exposing and discussing hypocrisy of anybody in public sphere, including public itself! If you feel like it, I would be more than welcome to post your contribution using the form below - thanks for your visit.
CBO doesn't examine the top bracket Bush tax cuts directly. But it does look at two competing scenarios: One where all of the expiring tax cuts except for the payroll tax cut are extended; another where all of the expiring tax cuts except for the payroll tax cut and the Bush tax cuts for top earners are extended.So, according to the CBO, the Democratic priorities do more to help the economy, and the Republican priorities do less. The 700,000 figure cited by the House Speaker has no basis in reality at all.
The former, CBO says, would increase employment by 1.8 million full time equivalent employees in 2013 relative to allowing everything to lapse. The latter would increase employment by 1.6 million. The difference, 200,000 full time equivalent jobs, is attributable to the expiration of the top bracket Bush tax cuts alone.
By comparison, other layers of the fiscal cliff save less money and have far greater economic consequences. Failing to extend the expiring payroll tax cut and expiring emergency unemployment benefits through 2014 would cost the economy about 800,000 jobs, according to CBO. The two halves of the sequester -- the defense cuts and the domestic cuts -- would each cost the economy about 400,000 full time equivalent jobs.