When do the Bush taxcuts sunset ??

[kentuck]

Do you think they should be extended in this bad economy? Will they sunset at the end of this year or next year? I think they had a sunset provision of 10 years?

How much revenue will that bring into our Treasury if they sunset as they are prescribed to do by law? Will your taxes increase when that law sunsets? Are you very concerned about that?

[bluestateguy]

1. October 2010

nt

[kentuck]

2. OH, the Repubs would like very much to take back the House,

and keep that from happening, don't you think?

[laughingliberal]

4. Yep. They should have repealed the Bush tax cuts.

I'm pissed that the plan was to let them continue til they expired. Too iffy for me.

[Warpy]

3. I doubt mine will increase

since I'm not a billionaire and I don't qualify for any of his childcare tax breaks. People with kids will see an increase unless Congress fixes that part and that's not good.

I expect the streets of Beverly Hills and Palm Springs to be running with blood next year because there is no inheritance tax but it goes to pre Stupid levels in 2011.

Congress is going to have to fix that one, too, indexing the exemption to inflation and making it a little more realistic.

However, restored taxes on high incomes will start to fix the deficit problem the tax cuts created and that's a very good thing. Obama and Congress don't have to do the unpopular but necessary thing and raise taxes before the election. They'll jump up automatically.

[kentuck]

5. Right! They don't have to do anything...

Just let it expire. I think that has something to do with laws passed by the reconciliation process?