Expiring Tax Cuts Would Cause a Double Dip Recession  Whilst the rich spend proportionately less of their income than the poor, the rest of their income is often invested in other areas and financial vehicles, boosting the economy in both the short and long term. In the short term this money allows businesses to take more risks owing to a greater pool of money to offset the risk, alongside lower interest rates. In the long term, these risks often lead to innovations that help the economy overall.  In increasing the tax burden on the rich, the spending and investment that wealthy individuals partake in is cut off, preventing these areas of the economy from growing. Recessions and recession prevention are often reliant upon public perception of an economy’s general health and the extent of its exposure to less stable economies. Due to this feedback mechanism, it is possible, therefore, that an unfounded belief that tax rises could obstruct economic growth might cause panic amongst the media and the populace. A recession might come about through the mere expectation that there will be a recession.  In fact, given that the majority of the media is controlled by the rich, it is within their best interest to report that there will be a crisis if there is a tax increase so that they can claim the policy was at fault in the future. [1]  [1] Vaughan, Martin and Mckinnon, John, “Democrats Dissent on Bush Cuts,” Wall Street Journal