Is Obama going to let the Bush Tax Cuts expire, causing all our taxes to go up?
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Darius
Members Posts: 22,649 ✭✭✭✭
http://www.investors.com/NewsAndAnalysis/Article/541131/201007211841/The-Tax-Tsunami-On-The-Horizon.aspx
this article definately doesn't present both sides of the argument, but if i understand it correctly, all taxes will go up, in every tax bracket starting january 1 of next year.
this article definately doesn't present both sides of the argument, but if i understand it correctly, all taxes will go up, in every tax bracket starting january 1 of next year.
Comments
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yep, they wil go up. but i think he'll either keep them (? off the ultra liberals) or, realistically, just modify them or introduce a new version for the lower/middle class to not get higher taxes. If he doesnt, he broke one of his biggest campaign promises.
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With the national debt being sky high and with jobless benefits being extended, the money has to come from somewhere
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i think even if they extend the cuts, they'll still get the same amount of tax ? they would get if they expired, they'll just tax us in a different way that we probably wont even realize
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earth two superman wrote: »yep, they wil go up. but i think he'll either keep them (? off the ultra liberals) or, realistically, just modify them or introduce a new version for the lower/middle class to not get higher taxes. If he doesnt, he broke one of his biggest campaign promises.
^^^ he BETTER do that if he wants to be elected again.
NOw if he wants to do the right thing...he just lets them expire. And going back to normal should not be considered "going up." Slight difference. Keyword...slight. -
DarcSkies777 wrote: »^^^ he BETTER do that if he wants to be elected again.
NOw if he wants to do the right thing...he just lets them expire. And going back to normal should not be considered "going up." Slight difference. Keyword...slight.
but you know if he just lets it expire and have it go back to the way it was, then its damn near political suicide. the people aren't going to care about the semantics of 'raising' a tax or a 'new tax' all these lower/middle class people are gonna know is that there taxes are more next year than they were the previous year thanks to Obama. -
Most of those cuts went to the super rich anyway. The lower and middle class tax cuts were just political cover for that Reaganomics ? . Death Tax? Capital Gains? You ain't sweatin that ? unless you got Jay-Z paper.
? 'em.....we Bad Boy killaz. -
Swiffness! wrote: »Most of those cuts went to the super rich anyway. The lower and middle class tax cuts were just political cover for that Reaganomics ? . Death Tax? Capital Gains? You ain't sweatin that ? unless you got Jay-Z paper.
? 'em.....we Bad Boy killaz.
this is true... so nobody in here (including me) has to worry... bet u see Republicans spin this though... i can see it now "Obama raises taxes in middle of recession" -
this is true... so nobody in here (including me) has to worry... bet u see Republicans spin this though... i can see it now "Obama raises taxes in middle of recession"
LMAO if you have kid, you are married, you have any income whatsoever you will be effected if all the cuts expire and none are modified -
at the end, he's basically telling people to vote republican. so what is their plan on cutting the deficit that they keep ? about?
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yea he will need to let the tax cuts expire.
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? it, ima get mine