You didn’t actually think that Obama was going to cut taxes on the vast majority of Americans, did you?
Only if you don’t consider letting the tax cuts ushered in under Bush lapse an increase.
The first loophole was easy to find: Senator Obama doesn’t
“count” allowing the Bush tax cuts to lapse as a tax increase. Unless
the cuts are re-enacted, rates will automatically return to the 2000
level. Senator Obama claims that letting a tax cut lapse — allowing
the rates to return to a higher levels — is not actually a “tax
increase.” It’s just the lapsing of a tax cut.
“count” allowing the Bush tax cuts to lapse as a tax increase. Unless
the cuts are re-enacted, rates will automatically return to the 2000
level. Senator Obama claims that letting a tax cut lapse — allowing
the rates to return to a higher levels — is not actually a “tax
increase.” It’s just the lapsing of a tax cut.
See the difference?
Neither do I.
When
those cuts lapse, my taxes are going up — a lot — but by parsing
words, Senator Obama justifies his claim that he won’t actively raise
taxes on 95 percent of working Americans, even while he’s passively
allowing tax rates to go up for 100% of Americans who actually pay
Federal income taxes.
those cuts lapse, my taxes are going up — a lot — but by parsing
words, Senator Obama justifies his claim that he won’t actively raise
taxes on 95 percent of working Americans, even while he’s passively
allowing tax rates to go up for 100% of Americans who actually pay
Federal income taxes.
Making this personal, my Federal
Income Tax will increase by $3,824 when those tax cuts lapse. That
not-insignificant sum would cover a couple of house payments or help my
two boys through another month or two of college.
Income Tax will increase by $3,824 when those tax cuts lapse. That
not-insignificant sum would cover a couple of house payments or help my
two boys through another month or two of college.
No
matter what Senator Obama calls it, requiring us to pay more taxes
amounts to a tax increase. This got me wondering what other Americans
will have to pay when the tax cuts lapse.
matter what Senator Obama calls it, requiring us to pay more taxes
amounts to a tax increase. This got me wondering what other Americans
will have to pay when the tax cuts lapse.
There are more “loopholes.” Read carefully. Choose carefully.
Advertisement
Oct 29, 2008 @ 19:29:44
Is there a term for willfully choosing to believe somebody when you KNOW they are lying to you? ‘Cuz I think it applies to every f***ing idiot who chooses to vote for The Annointed One based on his solemn promise (snort) to cut their taxes.Even without the analysis, it seems obvious to me that The Annointed One MUST raise taxes. He’s planning lots and lots of new spending: the money has to come from somewhere, no?