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2011- Better or worse?

I'm leaning towards worse. Read this and give your opinion on next years economy.

http://online.wsj.com/article/SB10001424052748704113504575264513748386610.html

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 1:39 PM on Jun. 10, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (24)
  • Worse.........................
    tyme4me2day

    Answer by tyme4me2day at 1:48 PM on Jun. 10, 2010

  • Well, if everything in that article occurs as the author thinks it will, it will definitely be worse.
    29again

    Answer by 29again at 1:53 PM on Jun. 10, 2010

  • I don't even have to read it to agree, it has become worse! I am ashamed I even stuck up for Obama now! I really am!
    delilahsmom1177

    Answer by delilahsmom1177 at 1:54 PM on Jun. 10, 2010

  • OMG that is the smartest thing I have ever heard Delilahs say. Good job lady and I mean that sincerly.
    Anonymous

    Answer by Anonymous at 2:08 PM on Jun. 10, 2010

  • Thanks, Anon lol!
    delilahsmom1177

    Answer by delilahsmom1177 at 2:18 PM on Jun. 10, 2010

  • "It shouldn't surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. People and businesses change the location of income based on incentives."


    The article is well-thought out and based on solid facts.

    MunchMunch

    Answer by MunchMunch at 2:35 PM on Jun. 10, 2010

  • "


    "On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero."


    Those aren't just taxes for rich people.  Any middle class person who has any savings or investments will be hurt, as will retirees who are living off investment income.  Estate taxes are the worst.  That money was already taxed when it was earned, now it will be taxed doubly.  People will end up selling the family home and the family farm in order to pay the taxes.

    MunchMunch

    Answer by MunchMunch at 2:36 PM on Jun. 10, 2010

  • Next years economy? I'll apologize ahead in advance for my comments.
    Until EVERYONE in the U.S. is pissed off, we won't fully recognize the mistakes made with a liberal loon at the Helm.
    If that is what it takes to get everyone to BOOO that AHOLE off the Capitol Steps in Jan of 2013, then I'll take it. If we have to suffer for 2 years to insure nothing like Obama ever happens again, that is mighty fine with me. I want everyone to pay high taxes, including those who voted for Obama.
    jewjewbee

    Answer by jewjewbee at 2:59 PM on Jun. 10, 2010

  • As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.
    ------
    but then you have this statement in the article, what does a further decline in revenue mean? that's right, a higher than projected deficit, more teachers let go, more tax hikes to offset the revenue loss, and more cuts in state and city services. WooHoo can't wait!!!
    jewjewbee

    Answer by jewjewbee at 3:06 PM on Jun. 10, 2010

  • The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain't seen nothing yet. ---


    should have read further to the end-I can only say that I hope each and every Obama voter suffers as much as everyone else does next year, they afterall asked for it.

    jewjewbee

    Answer by jewjewbee at 3:09 PM on Jun. 10, 2010

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