Bingaman: Obamacare Ramrod Now Favors Tax Hikes

Jeff Bingaman

From The New Mexico Independent - In a conversation with New Mexico radio reporters yesterday, Sen. Jeff Bingaman, D-NM, weighed on the idea that not keeping tax cuts in place for those with incomes over $250,000 would hamper economic recovery. Most economists don’t believe it would, he said. “Most economists I’ve heard from say that that’s not the case,” he said. “…clearly keeping taxes where they have been for the vast majority of Americans makes good sense in this economic downturn. And that’s what would be the case if we were to keep in place the tax provisions for everyone with up to $250,000 of income, that’s 98 percent of the population.” “The remaining 2 percent will of course get the same lower taxes for the first 250,000 of income they receive, but they would then pay higher percentage on income above that 250,000 and most economists think that would not be a substantial drag on the economy.” Read here:

Bingaman: Obamacare Ramrod Now Favors Tax Hikes