Whether the deal to reduce the government deficit passes or not, says radio talk-show host Rush Limbaugh, the American people are still going to get a tax increase.
“Any way you slice it you are going to get tax increases. That’s how screwed we are,” he said.
Limbaugh blames the complex accounting done by the Congressional Budget Office, he said on his radio show on Monday.
President George W. Bush’s tax cuts that are due to expire at the end of next year, he says. If Obama extends the cuts, the CBO will consider that a $ 5 trillion reduction in government income which will have to be made up elsewhere. If they expire, that’s a direct tax hike on Americans, Limbaugh said.
“Anyone wanting to tell you there are no tax increases in this technically may be right, this piece of legislation does not have a specific tax increases in it. But what’s slated to happen over the next few months results in one,” Limbaugh said.
“There hasn’t been a significant cut in spending,” he added. “There’s nothing that’s going to affect the rate of growth of government, nothing that’s making it smaller.”
Read more on Newsmax.com: Limbaugh: Don't Be Fooled — Debt Deal Means More Taxes
Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!
“Any way you slice it you are going to get tax increases. That’s how screwed we are,” he said.
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President George W. Bush’s tax cuts that are due to expire at the end of next year, he says. If Obama extends the cuts, the CBO will consider that a $ 5 trillion reduction in government income which will have to be made up elsewhere. If they expire, that’s a direct tax hike on Americans, Limbaugh said.
“Anyone wanting to tell you there are no tax increases in this technically may be right, this piece of legislation does not have a specific tax increases in it. But what’s slated to happen over the next few months results in one,” Limbaugh said.
“There hasn’t been a significant cut in spending,” he added. “There’s nothing that’s going to affect the rate of growth of government, nothing that’s making it smaller.”
Read more on Newsmax.com: Limbaugh: Don't Be Fooled — Debt Deal Means More Taxes
Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!
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