Should the Bush tax cuts be cancelled next year as Obama wants to do?

[Navy Pride]

The Bush tax cuts are due to expire on 31 December 2010....Should they be extended?

 

[Aunt Spiker]

IT depends - will it affect my mega tax return? Will I go from getting a $9,000 return to a $500 return? I must think about this and then decide. :thinking

 

[Josie]

Absolutely not. Tax cuts and reduced spending gets us out of economic trouble everytime. More spending, bigger government = more depression.

 

[Magill]

Obama and Democrats would like to extend the tax cuts on those making less than $250,000. But to do so, Hoyer said the third-top tax rate must be restructured since it affects earner making above and below $250,000. This means Democrats must introduce legislation that somehow splits this bracket so tax cuts for the middle-class are extended without affecting those earning more than $250,000.

House Dems want Bush tax cuts to expire, but say it's tough sell - TheHill.com

 

[Aunt Spiker]

From that article

Obama and Democrats would like to extend the tax cuts on those making less than $250,000. But to do so, Hoyer said the third-top tax rate must be restructured since it affects earner making above and below $250,000. This means Democrats must introduce legislation that somehow splits this bracket so tax cuts for the middle-class are extended without affecting those earning more than $250,000.

so - Since my husband makes far less than $250,000 - this won't affect me us at all . . . nor many others . . . and I fail to see the issue.

 

[Redress]

The Bush tax cuts are due to expire on 31 December 2010....Should they be extended?

Care to source that Obama wants to let all the tax cuts expire?

 

[Magill]

From that article


so - Since my husband makes far less than $250,000 - this won't affect me us at all . . . nor many others . . . and I fail to see the issue.

Well possibly, I was reading some scenarios of what could happen. If there is a gridlock (If the Republicans just say no to everything) then all of the Bush tax cuts will expire and everyone will get a 3% hike in taxes. Which I actually could see happening because I truly think they want him to fail and don't care how many people they hurt to make that happen.
But the Democrats and Obama want to extend the Bush cuts to those making under 250,000 while letting the tax cuts on those who make more, just expire, bringing them back to the Clinton era.

 

[Aunt Spiker]

I'll flip out completely and register myself as a freaking Democrat just to spite the Republicans if they continue this childish "no no no" crap. If they're going to insist on being nothing but tweens then so will I!
They're starting to remind me of Hitler in one scene out of Inglorious Bastards - "nein nein nein nein nein!"

ARGH!

how is that doing anything good for anyone!

:soap

 

[TurtleDude]

Most net tax payers want the tax cuts to become permanent. SO do some who realize that if their employers are socked with higher taxes they may well lose their jobs. Those who are net tax consumers (or gain political power by feeding the addiction of net tax consumers) want the rich to get soaked even though such activity actually hurts them in the long run. Spite and Envy fuels much of the tax hike vote

 

[TurtleDude]

I'll flip out completely and register myself as a freaking Democrat just to spite the Republicans if they continue this childish "no no no" crap. If they're going to insist on being nothing but tweens then so will I!
They're starting to remind me of Hitler in one scene out of Inglorious Bastards - "nein nein nein nein nein!"

ARGH!

how is that doing anything good for anyone!

:soap

that's rather silly. saying no to socialist expansion, more confiscatory tax policies etc is patriotic

 

[Aunt Spiker]

that's rather silly. saying no to socialist expansion, more confiscatory tax policies etc is patriotic

:shrug:

No one's being mature in this administration thusly I excuse myself likewise.

I do not approve - most wholeheartedly - of this firm and stout "we will vote no - always" crap. WHAT is the point of that? When I was a Republican I voted some of those people IN and voting NO on everything just because they disapproved of the president is not at all what I want from any of them!

You can't tell me that *everything* they've voted "no" on is purely "socialism" and "liberal" and what have you - I certainly don't feel that way.

They went *past* the occasional "stance against what we don't believe in or support" and have entered into a new realm of "failure to do our jobs"

 

[TurtleDude]

:shrug:

No one's being mature in this administration thusly I excuse myself likewise.

YouTube - The Ramones - I'm Against It

 

[Aunt Spiker]

YouTube - The Ramones - I'm Against It

Oh dear heavens! thanks for that

 

[Magill]

Most net tax payers want the tax cuts to become permanent. SO do some who realize that if their employers are socked with higher taxes they may well lose their jobs. Those who are net tax consumers (or gain political power by feeding the addiction of net tax consumers) want the rich to get soaked even though such activity actually hurts them in the long run. Spite and Envy fuels much of the tax hike vote

We had a tax hike on businesses (that make over 250,000) in Oregon and we are doing fine. Nike is still here. Columbia sportswear is still here. (Just a few of those who fought 66&67) and IBM announced it is bringing 600 more jobs to Oregon.

Most of the big businesses that could take jobs away, do on a regular basis anyway because they can get cheap labor overseas. No amount of tax cuts is going to make up for the fact that the American worker needs to make over 50 cents an hour.

 

[TurtleDude]

We had a tax hike on businesses (that make over 250,000) in Oregon and we are doing fine. Nike is still here. Columbia sportswear is still here. (Just a few of those who fought 66&67) and IBM announced it is bringing 600 more jobs to Oregon.

Most of the big businesses that could take jobs away, do on a regular basis anyway because they can get cheap labor overseas. No amount of tax cuts is going to make up for the fact that the American worker needs to make over 50 cents an hour.

we you one of those who had a tax hike imposed on you? those who tend to say tax hikes don't hurt are sort of like overweight football coaches telling a star receiver with a busted leg to "run it off son"

 

[Magill]

we you one of those who had a tax hike imposed on you? those who tend to say tax hikes don't hurt are sort of like overweight football coaches telling a star receiver with a busted leg to "run it off son"

My husband works for a company that makes way more than 250,000 a year.
Both my cousin and my parents own successful small business (both voted against 66 and 67) and both say that it has not changed their taxes in any way.

 

[TurtleDude]

My husband works for a company that makes way more than 250,000 a year.
Both my cousin and my parents own successful small business (both voted against 66 and 67) and both say that it has not changed their taxes in any way.

Not relevant==the Dem tax hikes are going to impact just about anyone who is a net tax payer

 

[Magill]

Not relevant==the Dem tax hikes are going to impact just about anyone who is a net tax payer

LOL Yes it is. You were asserting that people will lose jobs and it will have an affect on them.

The Dems will let the tax cut expire for the over 250,000 and they will try to keep it for those make under that. (unless of course the Republicans have anything to say about it).

 

[Kandahar]

Eventually we will need to raise taxes to get the deficit under control. However, I recognize that the economy is still weak. I wouldn't be opposed to extending all or some of the tax cuts for one more year, to help grow the economy.

Lulz at the poll options.

 

[TurtleDude]

LOL Yes it is. You were asserting that people will lose jobs and it will have an affect on them.

The Dems will let the tax cut expire for the over 250,000 and they will try to keep it for those make under that. (unless of course the Republicans have anything to say about it).

guess who provides most of the jobs

the people who are targeted for soaking by the obamatards

 

[Magill]

guess who provides most of the jobs

the people who are targeted for soaking by the obamatards

nice edit. lmao

taxes happen. get over it.

 

[Aunt Spiker]

Right now I feel it's necessary to point out that our economy went into the ****ter WHILE these cuts were in place.

 

[Magill]

I'm trying to remember the sad pitiful days in the 90's when those making over 250,000 had to pay 3% more. OH GAWD THE HORROR!! It's painful to think about. :roll:

 

[TurtleDude]

nice edit. lmao

taxes happen. get over it.

spoken like a true tax consumer-maybe you ought to start paying for what you use and stop demanding that others carry your share of the load

 

[TurtleDude]

I'm trying to remember the sad pitiful days in the 90's when those making over 250,000 had to pay 3% more. OH GAWD THE HORROR!! It's painful to think about. :roll:

a 3% increase is about a 10% increase in the taxes you pay

Of course if you had to pay more you'd whine its unfair even though you probably use more than you pay for