This morning the Republican National Committee blasted out a storyfrom The Hill about a new nonpartisan study finding that the poor will be hit hardest if all the Bush tax cuts are allowed to expire. An RNC spokesman, taking a shot at the Dems' failure to extend the tax cuts, rhetorically asked: "What excuse will the Democrats use now?"
Here's the funny thing, though. While that study does indeed find that letting all the tax cuts expire does disproportionately hurt the poor, italso finds that the plan Dems have actually proposed on the Bush tax cuts is better for the poor than the Republican one.
Answer by tyfry7496 at 10:21 AM on Oct. 10, 2010
Answer by gertie41 at 10:25 AM on Oct. 10, 2010
Answer by LoriKeet at 10:29 AM on Oct. 10, 2010
Answer by LoriKeet at 10:32 AM on Oct. 10, 2010
Scroll down in the article until you get to the break down by income and what your new taxes will be. My husband and I fall in the $62K-$132K range. Our taxes go up 24%. We will be paying 1/4 more in taxes. I can't afford that. The 0-$27K pay 50% more. This is what isn't told. Allowing this to expire is bad. The dems say it will cost them $700B. How? They don't have this money. They aren't "losing" anything - the Amer. people are, but the gov't isn't. You can't lose what you don't have. This cut will only raise the rich by 20%. No, this is not being extended is going to overwhelming sit on the lower and middle class, and the dems held it up because they don't want the upper class to keep 20% of their $.
Answer by jesse123456 at 10:34 AM on Oct. 10, 2010
Answer by lovinangels at 10:58 AM on Oct. 10, 2010
Answer by lovinangels at 11:02 AM on Oct. 10, 2010