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Originally posted by spinalremain
The lies about the "bi partisan" bills was really almost too much.
I'm not quite sure if he ran a business in Ohio..........did he mention that?
Also, why does he keep speaking about an increase in taxes? Does he not know that 98% of Americans will not have an increase if the Bush cuts are done away with? Ahh ok I get it, he's misleading the public. He wants us to believe that we are subject to the tax increase. Actually it isn't an increase at all. That 2% would simply be paying what they haven't had to for years. He forgot to add that as well.
I think 4 Democrats signed off on the Cut Cap and Trade. Since when is an upward of 200 + 4 = bi-partisan?
This guy is seriously evil and only for corporate profits and he's willing to pull America down just to do away with Obama. It's quite sad and yet the Americans with Stockholm syndrome clap it up. "Yaaaay! Nobles and serfs! Can I be a serf too?"
... Bush tax cuts that passed in 2001 and 2003 gave middle- income earners a 10 percent rate on couples’ first $14,000 in income; subsidies for college expenses, a higher child-care credit and relief from the marriage penalty. Keeping those and other reductions for the 130 million households earning less than $250,000 would cost about $300 billion a year, according to the congressional Joint Committee on Taxation.
The Bloomberg item also notes that "President Barack Obama campaigned for election in 2008 on a promise of extending the Bush tax reductions for families earning up to $250,000 while eliminating the cuts for higher- income Americans, a position also embraced by most congressional Democrats." Of course this means that many other Americans earning below that amount received tax cuts.
Originally posted by DarkKnight76
reply to post by GeorgiaGirl
Newsbusters, now there is a reliable source.
What happens on Jan. 1 if Congress does nothing?
Everyone's federal income and investment tax rates will go back up to where they were before the 2001 tax cuts were passed. In other words, your tax bill next year would increase.
If the tax cuts do expire and tax rates go up, you may notice the difference in your wallet as early as January, when your employer starts to withhold more taxes from your paycheck.
The Tax Policy Center estimates that a married couple with two kids under 13 and a household income of roughly $75,000 could end up paying about $2,600 more in federal income taxes next year than they would if the tax cuts were extended.