My understanding is they expire at the end of 2010, not at the beginning. Can anybody clarify?
And God only expects 10%. Go figure.
In some ways this is a good thing... The Bush tax cut took an unprecedented number of people out of tax responsibility. That was always my gripe about how Bush structured it. In consequence so many middle class types don’t pay taxes that they quit caring about spending! That was probably the intent of the Demonrats who pounded out the compromise. NOW suddenly, the vast stupid sheeplike public will actually care about the Federal spending!!!!! If my long held theories about the consequences of the Bush Tax Cut hold true... We shall see and time will tell.
2010 is the year to go Galt if you haven’t already
I read the Congress was also too busy to provide an “AMT” patch as they have been doing for years- so 20 million more families will fall under the AMT (from 4 million paying it now)
I expect this to profoundly affect our spending and saving this year
God Help our businessmen and our friends and neighbors employed by them who are struggling- but we can’t spend it if the US Congress takes it
I think it was PJ O’Rourke who said he could remember the moment he began to transform into a conservative was when he received his first paycheck and saw how much of the fruits of his labor was taken by the government.
Just noticed that as if 1 Jan my check will increase...due to decreased withholding. Ha! I suppose I’ll owe more tax due to this little shenanigan.
Of course, when people complain, BO can, as usual, blame Bush.
HE didn’t raise taxes, it’s all just leftovers from the Bush admin!
During the election, I never understood why McCain/Palin didn't emphasize this more. We knew Obama and the Dems wouldn't renew the Bush tax cuts, so right there he lied. Every time he made his "promise," I yelled at the TV.