I believe you are correct. Wouldn't it be a wise thing for Obama to continue the cuts however? The economy isn't exactly booming.

 

I'm just wanting clarification on whether or not it's new taxes, as everyone is saying "new taxes". I'm reserving judgement on what may hypothetically happen, because, frankly, I don't know what's planned. When I do, then I can form an opinion.

I'm just wanting clarification on whether or not it's new taxes, as everyone is saying "new taxes". I'm reserving judgement on what may hypothetically happen, because, frankly, I don't know what's planned. When I do, then I can form an opinion.

 

You are correct. IF these tax increases happen it will be because of a law signed by President Bush.

You are correct. IF these tax increases happen it will be because of a law signed by President Bush.

Again, Obama could very well extend the cuts.

You are correct. IF these tax increases happen it will be because of a law signed by President Bush.

 

No it won't.

 

It will be because of a law signed before him, by Clinton, if I'm not mistaken.

 

The one Bush signed did away with the taxes, temporarily.

 

Obama has the opportunity to extend the law that Bush signed, or to return to the one that Clinton signed.

Yippy, just wanted I wanted for Christmas. Higher taxes. :dancingpa

 

 

 

More programs - higher deficient - the money has to come from somewhere.

Again, Obama could very well extend the cuts.

 

Well, not exactly. In reality, Congress will either decide to do nothing, decide to extend the tax cuts or something in-between. President Obama has long promised to do the something in-between. What will be interesting will be the position of the Republicans. My guess is that the Democrats will propose a bill that will extend the tax cuts for the vast majority and end them for high wage earners. Will the Republicans use their votes to stop that? Will they insist that if the high wage earners don't get to keep their tax cuts no one does. We'll see.

No it won't.

 

It will be because of a law signed before him, by Clinton, if I'm not mistaken.

 

The one Bush signed did away with the taxes, temporarily.

 

Obama has the opportunity to extend the law that Bush signed, or to return to the one that Clinton signed.

 

The bill that President Bush signed ended the tax cuts after a time in order to reduce their effect on the long term deficit. The reduction in the rates could have been permanent in the Bush bill but they chose to make them temporary. President Clinton had nothing to do with that decision.

 

The bill that President Bush signed ended the tax cuts after a time in order to reduce their effect on the long term deficit. The reduction in the rates could have been permanent in the Bush bill but they chose to make them temporary. President Clinton had nothing to do with that decision.

 

Bush asked congress to make them permanent - They wouldn't.

I'm just wanting clarification on whether or not it's new taxes, as everyone is saying "new taxes". I'm reserving judgement on what may hypothetically happen, because, frankly, I don't know what's planned. When I do, then I can form an opinion.

 

Not new taxes at all. These are the cuts Bush made & they are set to expire at the end of 2010. As someone else said, he called for them to be made permanent, but his appeal fell on deaf ears. As it stands, Obama has the opportunity to urge Congress to extend them or allow them to expire.

So if I'm understanding lefty talking points correctly even though taxes will go up they aren't really increasing????

So if I'm understanding lefty talking points correctly even though taxes will go up they aren't really increasing????

 

If they indeed expire, the right will say Obama is imposing a tax increase, which wouldn't be accurate. But taxes will increase for all who pay them. And if I understand correctly, it's not just the tax rates, but also a reduction in the child tax credit.

If they indeed expire, the right will say Obama is imposing a tax increase, which wouldn't be accurate. But taxes will increase for all who pay them. And if I understand correctly, it's not just the tax rates, but also a reduction in the child tax credit.

 

Taxes will only go up for everyone if the Republicans are sucessful in killing the Presidents tax bill. President Obama and the Democrats in congress have proposed extending the Bush tax cuts for anyone making less than $250,000. The Republicans have vowed to kill it unless it also extends tax cuts for those making over $250,000. So if your tax bill goes up and you make less than $250,000, blame the Republicans. By the way, the same Republicans that are insisting that the $34 billion for unemployment benefits come out of the job creating stimulus money in order to not increase the defecit, don't have any such requirement for the tax cuts.

Taxes will only go up for everyone if the Republicans are sucessful in killing the Presidents tax bill. President Obama and the Democrats in congress have proposed extending the Bush tax cuts for anyone making less than $250,000. The Republicans have vowed to kill it unless it also extends tax cuts for those making over $250,000. So if your tax bill goes up and you make less than $250,000, blame the Republicans. By the way, the same Republicans that are insisting that the $34 billion for unemployment benefits come out of the job creating stimulus money in order to not increase the defecit, don't have any such requirement for the tax cuts.

 

There's plenty of blame to go to both sides. But of course in the spirit of wealth redistribution, class envy, and punishing the people who produce, the republicans should come on over.

 

To each based upon his need from each based upon his ability to give, right.

There's plenty of blame to go to both sides. But of course in the spirit of wealth redistribution, class envy, and punishing the people who produce, the republicans should come on over.

 

To each based upon his need from each based upon his ability to give, right.

 

As someone that pays taxes without feeling punished, as someone that is a producer now and has been for over 40 years, as someone that feels no sense of class envy and as someone that does not see the tax code as primarily wealth distribution, I reject your characterization. The fact is, we need fundamental reform of taxes and spending. Revenue needs to come from somewhere. With regard to the Bush tax cuts, there are only three choices. Extend them for all, extend them for no one or extend them for most. To me, extending them for most people makes the most sense right now. It doesn't change the need for fundamental reform, but that isn't going to happen before the end of the year.

Laws or regulations that 'automatically' expire should be outlawed.

 

But only for 3 years at which time at which time they should be allowed again unless Congress acts to again pass a law that prevents laws from expiring...again...