Unfortunately, the Reps are not doing a good job of explaining why they don't want the taxes of the "rich" to be raised. Obama says it will only affect 3% of small businesses, but as Romney pointed out during the debates, these 3% create more than half of the jobs.
And the GOP has failed to link the impact of Obamacare on small business in tandem with raising the taxes for the "rich." Again, the Dems have framed the argument and he who frames the argument usually wins it. The majority of the public wants taxes raised on the "rich." If the Reps cause us to go over the fiscal cliff, the Dems will use this on the Reps in the midterms and perhaps, retake the House in 2014.
Assuming Boehner and enough Reps cave on this tax increase to get it passed in the House, there must be an important concession by Obama to placate an irate GOP base. I don't think Boehner has the cajones to do that. The GOP political leadership is poised to give away the store. Obamacare is the law of the land. We need comprehensive immigration reform to legalize the 12 to 20 million lawbreakers in this country and to allow them thru family reunification, i.e., chain migration, to sponsor 66 million more of their relatives to enter this country legally.
The full list of marginal rate hikes is below:
-The 10% bracket rises to a new and expanded 15%
-The 25% bracket rises to 28%
-The 28% bracket rises to 31%
-The 33% bracket rises to 36%
-The 35% bracket rises to 39.6%
http://atr.org/days-taxmageddon-a7203#ixzz277YSfPmP
By allowing the 2003 Bush tax cuts to retire, taxes will be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.
Raising the 10% bracket to 15% represents what percentage of increase? (Hint: The correct answer is NOT 5%)
To those moving from the 10% bracket to 15%, their taxes will be increased by 50%!!
Raising the 20% bracket to 25% represents what percentage of increase? (Hint: The correct answer, again, is NOT 5%)it’s s a full-blown 25% increase in taxes
Finally, raising the 35% bracket to 39% represents what percentage of increase: (Hint: The correct answer is NOT 4%)that’s roughly an 11% increase in taxes.