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The bottom line is EVERYONE will be paying higher taxes ! Exactly what conservatives said would happen, and EXACTLY what the left ridiculed them for saying! Arthur Laffer: Tax Hikes and the 2011 Economic Collapse - WSJ.com "On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts."
Here's the bait and switch. Obama can still make the claim, but the congress is not beholden to his promises, so it's really not obama breaking his pledge, is it?
Oh please democratically controlled congress, please, please, please really PUSH this in the coming months.
The bottom line is EVERYONE will be paying higher taxes ! Exactly what conservatives said would happen, and EXACTLY what the left ridiculed them for saying! Arthur Laffer: Tax Hikes and the 2011 Economic Collapse - WSJ.com "On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts."
Rates are only part of the equation. What about exemptions? Obama included many exemptions which even for ordinary taxpayers like myself resulted in a large net tax decrease. Don't cry wolf without looking at the entire picture of credits and deductions which helped the middle class.
Every one remembers how the leftists on this forum kept repeating this in response to conservatives speaking the obvious, during the health care debate. Hoyer: Permanent middle class tax cuts too costly
Barack is not even ashamed of his lies. Anything to get elected. Deceive the people, no problem, cheat, no problem, lead our country into financial ruin, no problem. What's next?
Barack is not even ashamed of his lies. Anything to get elected. Deceive the people, no problem, cheat, no problem, lead our country into financial ruin, no problem. What's next?
Another false attempt to parse words from a slanted source. Obama has ALWAYS indicated that the Bush tax cuts would sunset. Obama has ALWAYS indicated that returning to pre-Bush tax rates would be the part of the steps to help offset the deficit, but that rates would not rise above pre-Bush rates.
1. Obama ALWAYS said that there would be no new taxes on anyone making less than $200,000 per year.
2. Obama said he would KEEP the Bush tax cuts in place for the middle class, but allow them to lapse for "the rich"
3. Obamacare has already added new taxes for the middle class
Now........................... let's wait an see when Obama adds a VAT tax! I guess it would not be so disgusting if the idiot did not have such job killing policies in place as well, but higher taxes and more unemployment? I guess this is the "worker's paradise" that the liberals were hoping for. The rest of us like the nation to be employed.
Rates are only part of the equation. What about exemptions? Obama included many exemptions which even for ordinary taxpayers like myself resulted in a large net tax decrease. Don't cry wolf without looking at the entire picture of credits and deductions which helped the middle class.
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