{Political_Views} The Tea Party Tax Increase

 The Tea Party Tax Increase

"(W)ould reduce GDP growth by 0.5 percent and cost the economy 400,000 jobs." - Macroeconomic Advisers

"(L)etting the cut expire would knock 1.5 percent off of first quarter growth next year." - Barclay's

On the other hand - 

(E)xtending the tax cut "is likely to add between 750,000 to 1 million jobs." - Ameriprise Financial Services

(T)he payroll tax cut "would add 1 percentage point to economic growth and create 1 million jobs next year." - Susan Wachter (a finance professor at the University of Pennsylvania's Wharton School).

(T)he payroll tax cut "would add 1 percentage point to economic growth and create 1 million jobs next year." - Susan Wachter (Finance Professor at the University of Pennsylvania's prestigious Wharton School

"(T)he tax cut would pump "$120 billion into U.S. households in 2012." - Regional Economic Models Inc.

So much for Grover Norquists' no new tax pledge that every Republicon signed.

 http://thinkprogress.org/progress-report/

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