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Should we allow the Bush tax cuts to expire for the wealthy?

whypolitics

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Its not fair to raise taxes on the rich. In the best of times I would call for tax cuts for all. Still hard times call for hard choices. We have a huge deficit, and yes Obama contributed to a lot of it. So did George W Bush, the wars alone cost over 1.3 trillion, plus he ran deficits in every other year. Clinton had a couple of surplus years, but he was aided by a huge technology boom. Reagan contributed 100s of billions to the deficit also. Point is, a lot of administrations, conservative and liberal, have had their hands in raising the deficit. Now we need to to start paying those deficits down.

Wealthy earners will have an easier time shouldering the burden than middle class families. Main street has suffered enough through this recession and we cannot afford to tax them anymore. The rich are growing richer, I do not fault them for that, but at the same time our deficits are growing and our middle class is shrinking. We need to get them under control, and allowing tax breaks to expire on wealthy families will help. If not, its just 700 billion our children will have to pay for later.

Its not fair, but than again life's not fair now is it?

Should you have any links to articles related to this, let me know. My personal blog is whypolitics.com Have a blog? Let me know.
 

ptif219

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Its not fair to raise taxes on the rich. In the best of times I would call for tax cuts for all. Still hard times call for hard choices. We have a huge deficit, and yes Obama contributed to a lot of it. So did George W Bush, the wars alone cost over 1.3 trillion, plus he ran deficits in every other year. Clinton had a couple of surplus years, but he was aided by a huge technology boom. Reagan contributed 100s of billions to the deficit also. Point is, a lot of administrations, conservative and liberal, have had their hands in raising the deficit. Now we need to to start paying those deficits down.

Wealthy earners will have an easier time shouldering the burden than middle class families. Main street has suffered enough through this recession and we cannot afford to tax them anymore. The rich are growing richer, I do not fault them for that, but at the same time our deficits are growing and our middle class is shrinking. We need to get them under control, and allowing tax breaks to expire on wealthy families will help. If not, its just 700 billion our children will have to pay for later.

Its not fair, but than again life's not fair now is it?

Should you have any links to articles related to this, let me know. My personal blog is whypolitics.com Have a blog? Let me know.

It is not the rich. It is the middle class. Small business are not rich but they will be caught in this and many will go out of business because of it.

$250,000 is not a lot of money to run a business. This will hurt the economy and stop any job growth.

Show me how this would help the economy or create jobs.
 

whypolitics

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250,000 is 250,000. Rich? Perhaps not. Middle Class? No. Somewhere in between, most likely. I would be all for Obama raising the highest bracket to 300,000 dollars.

The rest is just ideological talking points. A quarter million dollars profit a year for a small business is a very good living. Sorry, it just is.
 

RightinNYC

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250,000 is 250,000. Rich? Perhaps not. Middle Class? No. Somewhere in between, most likely. I would be all for Obama raising the highest bracket to 300,000 dollars.

The rest is just ideological talking points. A quarter million dollars profit a year for a small business is a very good living. Sorry, it just is.

$250k/year doesn't go as far as you might think in places like NYC.

I don't see any reason why the top tax bracket should kick in at $250k. The top bracket should be at 1-2 million.
 

ptif219

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250,000 is 250,000. Rich? Perhaps not. Middle Class? No. Somewhere in between, most likely. I would be all for Obama raising the highest bracket to 300,000 dollars.

The rest is just ideological talking points. A quarter million dollars profit a year for a small business is a very good living. Sorry, it just is.

Small business people are middle class and the 250,000 is not their income but there business intake. The figure is far from the rich
 

phattonez

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The $250,000 figure will effect many people, and the reasoning behind the idea is stupid. The rich provide capital, and you want to decrease investment in capital formation during a recession?
 

Wiseone

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$250k/year doesn't go as far as you might think in places like NYC.

I don't see any reason why the top tax bracket should kick in at $250k. The top bracket should be at 1-2 million.

If thats true I agree.
 

tacomancer

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$250k/year doesn't go as far as you might think in places like NYC.

I don't see any reason why the top tax bracket should kick in at $250k. The top bracket should be at 1-2 million.

I agree, it should kick in higher, but I also think the rate should be higher as well.
 
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