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News & Politics News & Politics

Bush Tax Cuts

Posted by on Oct. 1, 2012 at 12:15 PM
  • 104 Replies

 Should they expire?  Make your case here...

by on Oct. 1, 2012 at 12:15 PM
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erika9009
by Silver Member on Oct. 1, 2012 at 12:28 PM
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At this point, it's pretty much a tax increase.  What has it been 10 yrs now?

Also, a real bad time economically for tax increases  since 70% of the economy is consumer driven.

mommom2000
by Bronze Member on Oct. 1, 2012 at 12:43 PM
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Yes, like Obama wants to do it, for anyone making over 200,000.  This didn't create jobs, the only thing these tax cuts did were create a huge deficit.  If conservatives were really worried about the deficit they would also want to see these tax cuts expire.  they were only meant to be temporary.

Carpy
by Platinum Member on Oct. 1, 2012 at 12:55 PM
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The tax cuts worked. Overspending created the deficit

Quoting mommom2000:

Yes, like Obama wants to do it, for anyone making over 200,000.  This didn't create jobs, the only thing these tax cuts did were create a huge deficit.  If conservatives were really worried about the deficit they would also want to see these tax cuts expire.  they were only meant to be temporary.

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kailu1835
by Silver Member on Oct. 1, 2012 at 12:56 PM
3 moms liked this

If they expired, we would see the largest tax hike on the lower class income in recent history.  People forget that the tax cuts were across the board, with the largest percent decrease on the lowest income brackets, and the smallest percent decrease was on the highest income brackets.  So at this point I would say make them permanent.

erika9009
by Silver Member on Oct. 1, 2012 at 1:01 PM
1 mom liked this

I disagree also on this.  Can you enlighten us with some numbers on unemployment and consumer confidence? 

Many were sent these $300+ checks to "spend"  and most did.  With that being 70%of our economy, it helped.

Quoting mommom2000:

Yes, like Obama wants to do it, for anyone making over 200,000.  This didn't create jobs, the only thing these tax cuts did were create a huge deficit.  If conservatives were really worried about the deficit they would also want to see these tax cuts expire.  they were only meant to be temporary.


____________________________________________________

Erika..

Children are a blessing and are never inconvenient.............

JakeandEmmasMom
by Gold Member on Oct. 1, 2012 at 1:01 PM

 

Quoting mommom2000:

Yes, like Obama wants to do it, for anyone making over 200,000.  This didn't create jobs, the only thing these tax cuts did were create a huge deficit.  If conservatives were really worried about the deficit they would also want to see these tax cuts expire.  they were only meant to be temporary.

 What do you think would be the effect on the economy of lower and middle income people having less spendable cash in their wallets?

dilateyourmind
by Member on Oct. 1, 2012 at 1:06 PM
8 moms liked this

I always laugh because the same people complaing about the deficit, don't want to pay  taxes in the first place. So which is it folks? Rolls eyes. I just LOVE those that speculate that Obama will  let them expire this time. Despite the fact that Romney himself said Obama HAS NOT RAISED TAXES.

   We were prosperous under Clinton, until Bush allowed tax cuts for the rich.  http://www.americanprogress.org/issues/tax-reform/news/2009/12/22/7092/let-the-bush-tax-cuts-on-the-wealthy-expire/

  BUT..I get why people in that tax bracket wouldn't want it. I call them the legit Republicans. Not the lower middle class, that vote repub for pro-life and other fantasy platforms. They do it cause they THINK it makes them a better person internally.

DawnPratt23
by on Oct. 1, 2012 at 1:10 PM
It was nice saving money for a change and having low taxes on dividends. Now our small savings will be best stuffed under our mattress to avoid the high taxes on it.and we are barely middle class.
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JakeandEmmasMom
by Gold Member on Oct. 1, 2012 at 1:15 PM
1 mom liked this

 I don't think any president will let them expire in all reality.  I agree with Erika that at this point it would feel like a tax increase on everyone.  Letting them expire would hurt the lower and middle income people the most, IMO.

Quoting dilateyourmind:

I always laugh because the same people complaing about the deficit, don't want to pay  taxes in the first place. So which is it folks? Rolls eyes. I just LOVE those that speculate that Obama will  let them expire this time. Despite the fact that Romney himself said Obama HAS NOT RAISED TAXES.

   We were prosperous under Clinton, until Bush allowed tax cuts for the rich.  http://www.americanprogress.org/issues/tax-reform/news/2009/12/22/7092/let-the-bush-tax-cuts-on-the-wealthy-expire/

  BUT..I get why people in that tax bracket wouldn't want it. I call them the legit Republicans. Not the lower middle class, that vote repub for pro-life and other fantasy platforms. They do it cause they THINK it makes them a better person internally.

 

mommom2000
by Bronze Member on Oct. 1, 2012 at 1:40 PM


Quoting JakeandEmmasMom:

 

Quoting mommom2000:

Yes, like Obama wants to do it, for anyone making over 200,000.  This didn't create jobs, the only thing these tax cuts did were create a huge deficit.  If conservatives were really worried about the deficit they would also want to see these tax cuts expire.  they were only meant to be temporary.

 What do you think would be the effect on the economy of lower and middle income people having less spendable cash in their wallets?

I don't think they should stop them right now for a family making under 250,000, and neither dose Obama.

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