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To: muawiyah

I thought Obama and the dems #1 economic policy was to let the Bush tax cuts expire and raise them on the “rich” to 39.6%. Now they’re going to lower them to 29% or less? I must be missing something. There must be something else, a catch of sorts.

The dems would never be able to go after Republicans on taxes again. They’d be cutting them for the “rich” even more than Bush did. It would pretty much be going back on their entire ideology.


14 posted on 07/19/2011 11:21:30 AM PDT by jeltz25
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To: jeltz25

“The dems would never be able to go after Republicans on taxes again. They’d be cutting them for the “rich” even more than Bush did. It would pretty much be going back on their entire ideology.”

What are you talking about? No amount of facts can dislodge Dems as the party of “the little guy” and Pubs as lackies of Big Business Fat Cats. No matter how much Wall Street money fills Obama’s coffers, no matter how progressive Pubs make their tax rates, no matter how much raising taxes hurts the lowly Forgotten Man, nothing will change.


28 posted on 07/19/2011 11:43:39 AM PDT by Tublecane
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To: jeltz25
Yes there is. They will be lowering mortgage deductions,charitable contributions,health care contributions
and 401K tax savings. So they will lower the rates but they will make it up on the back end. Also the tax rates touted in the Gang of Six plan has 3 rates but there is variation in each bracket so you can bet alot of people will be shifted up to the higher end rates

“Simplify the tax code by reducing the number of tax expenditures and reducing individual
tax rates, by establishing three tax brackets with rates of 8–12 percent, 14–22 percent,and 23–29 percent.”

30 posted on 07/19/2011 11:46:00 AM PDT by funfan
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To: jeltz25
Yes there is. They will be lowering mortgage deductions,charitable contributions,health care contributions
and 401K tax savings. So they will lower the rates but they will make it up on the back end. Also the tax rates touted in the Gang of Six plan has 3 rates but there is variation in each bracket so you can bet alot of people will be shifted up to the higher end rates

“Simplify the tax code by reducing the number of tax expenditures and reducing individual
tax rates, by establishing three tax brackets with rates of 8–12 percent, 14–22 percent,and 23–29 percent.”

31 posted on 07/19/2011 11:46:10 AM PDT by funfan
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To: jeltz25
Yes there is. They will be lowering mortgage deductions,charitable contributions,health care contributions
and 401K tax savings. So they will lower the rates but they will make it up on the back end. Also the tax rates touted in the Gang of Six plan has 3 rates but there is variation in each bracket so you can bet alot of people will be shifted up to the higher end rates

“Simplify the tax code by reducing the number of tax expenditures and reducing individual
tax rates, by establishing three tax brackets with rates of 8–12 percent, 14–22 percent,and 23–29 percent.”

32 posted on 07/19/2011 11:46:22 AM PDT by funfan
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