Five myths about the Bush tax cuts

A thought-provoking piece on the Bush Tax Cuts. The five myths, according to the writer are:

1. Extending the tax cuts would be a good way to stimulate the economy.
2. Allowing the high-income tax cuts to expire would hurt small businesses.
3. Making the tax cuts permanent will lead to long-term growth.
4. The Bush tax cuts are the main cause of the budget deficit.
5. Continuing the tax cuts won't doom the long-term fiscal picture; entitlements are the real problem.

While we’re on the topic of the Bush tax cuts, Ezra Klein posted on his Washington Post blog earlier today the general sentiment regarding whether the tax cuts should be extended, partially extended, or be allowed to expire entirely.

Update: Fareed Zakaria also offers a very pragmatic piece about the expiration of the tax cuts and a general argument about how low our taxes are in this country compared to other countries around the world today and to the historical rates in the United States.