Will he or Wont he?
By laglen
@laglen (19759)
United States
September 8, 2010 7:56am CST
Extend the Bush tax cuts. That seems to be the question. With some big cuts set to expire, will the administration extend them or stop them.
here is a link you can see some results if they are not extended
http://www.forbes.com/2010/07/22/expiring-bush-cuts-affect-personal-finance-taxes.html
Boehner suggests extending them for two years. Economists recommend extending them.
http://blogs.abcnews.com/politicalpunch/2010/07/treasury-secretary-says-letting-bush-tax-cuts-for-rich-expire-will-not-slow-economic-growth.html
Geithner says let them go
http://www.politico.com/news/stories/0810/40672.html
where do you stand and why?
3 responses
@sierras236 (2739)
• United States
8 Sep 10
Some of them will be extended. It is a political move not an economic move. A last ditch ploy to create the illusion that something is being done.
1 person likes this
@mattic (282)
• United States
8 Sep 10
laglen, I know it is simply semantics, but they are no longer really "tax cuts". Once the legislation passed, there were new effective tax rates. Congress simply put a time limit on that change, but the tax rate has been the same for approximately 8 years. So, the O's refusal to extend the existing tax rate will cause a tax increase - across the board, and break yet another promise from the annointed one. Since he has zero integrity, this is of little consequence. A continuation of the current tax rate runs counter to the collectivist agenda of destroying the US economy.
1 person likes this
