President Obama's Imaginary Tax Cuts

Discussion in 'Politics' started by KenH, Oct 30, 2010.

  1. KenH

    KenH
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    Obama's Imaginary Tax Cuts
    by Richard W. Rahn

    Richard W. Rahn is a senior fellow at the Cato Institute and chairman of the Institute for Global Economic Growth.
    Added to cato.org on October 26, 2010

    This article appeared in The Washington Times on October 26, 2010.

    How many times have you heard the president and the congressional Democrats say Americans who make less than $200,000 a year have not had, and will not have, any of their taxes increased? Unfortunately, it is not true, and it is likely to become a whole lot worse.

    The 111th Congress has already enacted $352 billion in net tax increases and may, in the upcoming lame-duck session, enact the largest tax increases in history, which will hit every man, woman and child — as well as every business in America.

    ...

    The bottom line is that the exiting Congress may continue to be irresponsible by not doing what is necessary to avoid a huge tax increase in January. Such a tax increase will almost certainly cause a double-dip recession and market chaos. Take heed.

    - rest at www.cato.org/pub_display.php?pub_id=12508
     
  2. carpro

    carpro
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    Confirms what I've been saying for a long time.

    If democrats get their way, enormous tax increases are on the way. That's their nature.
     
  3. Winman

    Winman
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    I know this is off subject, but not just taxes are going up. Yesterday at work we held meetings to discuss our company health plan for 2011. Our rates went up around 25%.

    Oh yeah, Obamacares!

    He just doesn't care for the working man.
     
  4. JPPT1974

    JPPT1974
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    We shall see on Tuesday what happens, now won't we?
    Just hope for the best!:1_grouphug:
     
  5. carpro

    carpro
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    Yes. But a lame duck democrat congress with no compunctions about doing the unconscionable can do a lot of damage if republicans weaken even a little.
     

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