The lie that the Bush tax cuts were just for "the rich" will be exposed in 2011 when everyone gets smacked in the wallet by the painful truth. Your taxes will go up a lot.
I agree - leave the tax cuts and cut defense spending 90% make contributions to defense voluntary like military service - if you have wealth and property to protect - by all means contribute - the socialism involved in paying to protect the goods of the rich - bt everyone else must end now.
Let's seeee.....we Americans are over a Trillion in debt. We're continuing to fund two big wars to the tune of millions per day. We've got entitlements out the wazzo..everything from Healthcare to Corporate subsidies. We've got almost 100% of the state and local budgets, pension funds, etc., staring at huge deficits with their mandates (state budgets) stipulating "thou shalt be balanced every year." And you say everyone will be paying higher taxes?
WHAT a surprise! (You must have just fallen off the boat).
Clinton-Obama debate Apr 16, 2008.
Q: Can you make an absolute, read-my-lips pledge that there will be no tax increases of any kind for anyone earning under $200,000 a year?
CLINTON: I will let the taxes on people making more than $250,000 a year go back to the rates that they were paying in the 1990s.
Q: Senator Obama, would you take the same pledge? No tax increases on people under $250,000?
OBAMA: I not only have pledged not to raise their taxes, I’ve been the first candidate in this race to specifically say I would cut their taxes. We are going to offset the payroll tax, the most regressive of our taxes, so that families who are middle-income individuals making $75,000 a year or less, that they would get a tax break so that families would see up to $1,000 worth of relief.
Q: You both have now just taken this pledge on people under $250,000 and $200,000.
Source: 2008 Philadelphia primary debate, on eve of PA primary Apr 16, 2008
That horsemanure will hit the fan next year. Democrats are going to be covered in it.
of course you all are also forgetting the health care bill...anyone recieving paid healthcare thru your employer, well that paid healthcare is now being counted as income on your taxes and u will pay taxes on employer paid healthcare.. that alone will be killer . this has not been made much of a public issue yet as it is not known ...
I didn't read all the replies, but ... The only portion of the Bush tax cuts that are being allowed to expire, are those on the wealthy. If you make less than $250k, your income taxes will not be going up. I'm not saying 250k makes you wealthy, and hopefully the tax increase will be graduated with income, so that those just over 250 will see little or now increase, and only the Mega Wealthy can take the hit ... However we all know how that tends to go...
It's true, blueeyes. No action is planned in the Senate or the House on the Bush tax cuts. NO action means they will expire by law. Every one of them, for every taxpayer. Both Houses will have to act to extend whichever Bush tax cuts they choose to extend. Nothing like that is on the table in either the Senate or the House.
No one knows what congress or Mr. Obama will do re any part of the tax cut expiration.
Both are off enjoying themselves too much to have completed any action, let alone explanation, of that.