Posted on 04/15/2010 6:53:56 AM PDT by jmaroneps37
The Tax Policy Center, a Washington based think tank, has examined the tax consequences we will have heaped on us when the Democrats allow the Bush Tax Cuts to expire at the end of this year.
* Those making $75,000 who sell a stock at a profit will pay a higher capital gains tax.
*Parents who enjoy a $1,000.00 tax credit for having a child will see that benefit cut to just $500.00 next year.
*Families with incomes over $250,000 will see many itemized deductions disappear and ultimately pay more of their hard earned money. Their capital gains taxes will climb on stock dividends.
The probability that higher taxes will hit America’s hardest workers and highest earners is real because the Democrat controlled Congress will let all or most of the tax cuts passed by George Bush in 2001 and 2003 expire.
Obama’s shell game
The battle over whether to extend the tax cuts will be another reason to throw out the high taxing/spending Democrats. If this debate lasts into the lame duck session it will really be explosive. This makes winning back the House still more important.
Obama wants Congress to extend the lower tax rates for individuals earning less than $200,000 a year and families making less than $250,000 annually. But under his plan, individuals making more than $200,000 a year and families above $250,000 would pay higher taxes on income, capital gains and dividends.
A professor of economics from the University of Michigan wants higher taxes on “the rich” (remember “the rich” now means those making $75,000 a year) because doing so is “the safest bet.”
A professor from the University of Dayton says, “There is no economic model out there of whatever flavor — Keynesian or otherwise — that says that a tax increase is simulative…
(Excerpt) Read more at collinsreport.net ...
still, some people fail to understand that
this is what the left wants—the destruction of the middle class.
The income bracket that got the largest tax cut was the $30K-$40K bracket. That’s the real Middle Class. So we will get the largest tax INCREASE.
In my best ‘bammy arrogant tone:
“if you make less than $250,000, your taxes won’t go up by one dime”
lying bastard. Healthcare Control legislation IMMEDIATELY increased my taxes.
No. He was truthful. He said they wouldn’t go up by “one dime”. They went up by a lot of dimes...
The mega-rich are largely insulated from harm. They love it when the government taxes the up and coming people. That’s why Wall Street shrugs off Democrat talk of reform. As long as they contribute to the Dims, they will be safe.
deductions are a much higher and growing proportion of the incomes of the bottom 50%
http://wmbriggs.com/blog/?p=2222
And just a couple of weeks ago, as well.
$9 per week, right after Healthcare Control passed.
Tonight at 11, The Death of America...and why it is good for everyone!
“A professor from the University of Dayton says, “There is no economic model out there of whatever flavor — Keynesian or otherwise — that says that a tax increase is simulative…”
LS is that you?!
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