Tax Cuts - I'm Really Worried About...

[Steely_Dan]

I'm seriously worried that there is a possibility that the Bush tax cuts will NOT be allowed to die. I must tell you that if this happens and the wealthy are allowed this unwarranted privilege (especially during two wars and the economy being what it is), I'm not sure where I will stand with regard to my party. I am a good and loyal Dem and have been all my life. However, I just don't know how I can reconcile my affiliation if the Tax Cuts are allowed to stand. It might be the proverbial "last straw."

So, tell me...your best educated guess, will the Bush tax cuts continue to stand or will they be terminated? And, what will you do if they are allowed to continue?

-P

[Born_A_Truman]

1. I hope they keep the lowest tax bracket and child credit

• The 10% tax bracket will expire, reverting to 15%
• The child tax credit will fall from $1,000 to $500

I don't want these to expire.

[Steely_Dan]

2. I must be confused....

I should have been more specific. I am speaking about the unwarranted tax cuts enjoyed by the wealthiest in our country.

[Born_A_Truman]

3. OK ...

But there are so many posts about the tax cuts that don't mention that some of them, if allowed to expire, would hurt many families, IMO.

[Steely_Dan]

4. Well...I'll have to

educate myself better before posting. It seems that the discussion is mostly about the wealthy and not others who benefit.

[SoCalNative]

8. Personally

I think that they need to get rid of the child tax credit completely.

Don't breed if you can't afford them without government handouts.

[Kalyke]

11. Sure thing... if both parents weren't forced to work to make

ends meet.

It's not a "government handout." It's a very meager concession for ruining the middle class to the point that both parents HAVE to work. The "handout" pays back a tiny, little portion of what most parents spend on daycare in a year.

[Hannah Bell]

13. +100.

[Warren DeMontague]

5. I think they'll expire for the top brackets, above 250K. The top marginal rate will return to 39%

or whatever.

The so-called estate tax will return, albeit with a higher exemption rate, which probably makes sense given the inflation of real estate values over the past 20 yrs.

[safeinOhio]

6. The President will veto

it. Kind of a reverse filibuster payback.



ok, at least in my dreams.

[mdmc]

7. It would be a feather in Obama's cap to keep the cuts

It would be a black eye to get rid of them (unless I am wrong and Obama is not a raygun-supply sider)

[Hannah Bell]

14. to keep *which* cuts? the top 1% got more tax cuts than the bottom 80% combined.

http://www.ctj.org/pdf/bushtaxcutsvshealthcare.pdf

[mdmc]

15. sadly, the tax cut for the rich

the rest of us have no where to go. the rich can support Obama or the GOP..

[HughBeaumont]

9. They will be allowed to sunset.

Poor piece of legislation that blew a hole clean through the budget. At worst, the <250k tax cuts will remain. The ones on the wealthy definitely have to sunset. To be frank they ALL need to sunset. That deficit and debt is ginormous and this is a major reason why.

Honestly, I really don't see what everyone is hem and hawing about. First of all, it's a RETURN to an old level. This isn't an increase, it's a correction. Secondly, the old level isn't even that goddamned high. The rich aren't going to miss a drop either way.

[Broke In Jersey]

10. hmmmm There's really people here that think the Bush Tax Cuts WON'T be entirely extended???

They let the super-wealthy inheritance tax go to 0% for this year....the govt would have collected hundreds of millions from Steinbrener alone.

[dtexdem]

12. Well, there are limits.

And continuing the fat cat tax cuts is well beyond said limits.