Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

2 Bumps

Leave the Bush cuts the way they are for another year or two, and then raise them?

Agree or disagree?

If you polled all American economists and gave the median thinker plenipotentiary powers, he or she would likely say its best to leave tax rates where they are for the next year or two and then raise them, Aaron said.

Answer Question
 
lovinangels

Asked by lovinangels at 11:45 AM on Nov. 13, 2010 in Politics & Current Events

Level 39 (112,638 Credits)
Answers (8)
  • http://news.yahoo.com/s/yblog_exclusive/20101112/pl_yblog_exclusive/bush-tax-cuts-likely-to-stay-in-place-despite-the-spitballs;_ylt=Akw0aUmDSz0ALEsVE6h0nvCyFz4D;_ylu=X3oDMTQ5bTV1ZWM5BGFzc2V0A3libG9nX2V4Y2x1c2l2ZS8yMDEwMTExMi9idXNoLXRheC1jdXRzLWxpa2VseS10by1zdGF5LWluLXBsYWNlLWRlc3BpdGUtdGhlLXNwaXRiYWxscwRjcG9zAzEEcG9zAzMEc2VjA3luX3RvcF9zdG9yeQRzbGsDZnVsbG5ic3BzdG9y
    lovinangels

    Comment by lovinangels (original poster) at 11:45 AM on Nov. 13, 2010

  • If deficit reduction is the goal, the cuts should NOT be extended, especially to those earners in the top 1%- of course, the tax system needs reform as well, so that those making a billion are not allowed to report taxable incomes of $100, 000-that is a huge part of the problem- Hard to fix when those making the rules also hold the heaviest purses. Fox guarding the hen house and folks wonder why the # of hens is dwindling?

    Sisteract

    Answer by Sisteract at 12:24 PM on Nov. 13, 2010

  • How about extending them for a year or two, and in the INTERIM, make a sound economic plan for phasing them out or "tweaking" them so as to help this country rebuild?!
    LoriKeet

    Answer by LoriKeet at 1:33 PM on Nov. 13, 2010

  • The cuts have been in effect for years and look at HOW WELL they've helped; the # of jobs produced. IMO, IF deficit reduction is the goal, the cuts to the top wage earners need to expire. Tweaking is fiscally irresponsible.

    Sisteract

    Answer by Sisteract at 1:41 PM on Nov. 13, 2010

  • If they are going to tweak/raise them then they need to make some changes to the tax code so it doesn't hurt the small business owners.

    IMO the cuts should be left in place....and the scissors taken to the budget. Show me we have cut out the wasteful spending and our being responsible with the pocketbook...then I might concede a tax increase...........across the board is in order to reduce the DEBT...not the DEFICIT. I will condede to NO increases for deficit reduction.
    yourspecialkid

    Answer by yourspecialkid at 11:39 PM on Nov. 13, 2010

  • ITA with yourspecialkid. At the very least, people who live at or near the poverty level should still get the child tax credit and additional child tax credit. YSK makes a very good point that many small business owners would be hurt by letting these tax cuts expire. On paper they may look like they make a lot of money, but in reality they may be struggling to make it. Small business owners create the majority of new jobs in this country.

    I think GWB had a good idea when he instituted the tax cuts. What we need to cut is spending and the politicians' pay, IMO.
    Iamgr8teful

    Answer by Iamgr8teful at 12:34 AM on Nov. 14, 2010

  • agree
    itsmesteph11

    Answer by itsmesteph11 at 10:06 AM on Nov. 14, 2010

  • Sister.....
    Actually these cuts were never put into effect to promote jobs exclusively. Besides most were put into effect 10 yrs ago. I don't think you can prove that they didn't help create jobs since the Bush administration DID create jobs. How do you know what the catalyst was? It certainly was not more taxes on big business.
    They were put into effect to improve the economy after 9-11 which they did, and again when we had a very light recession in which the cuts did help get us out of quickly. Why is it Libs never have proof that tax cuts don't work in general yet don't believe it when Conservatives can point to facts that they do?
    itsmesteph11

    Answer by itsmesteph11 at 10:14 AM on Nov. 14, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.