What Happens If the Bush Tax Cuts Expire

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By reducing taxes on rich they invest, thus creating jobs and paying more taxes because of increase in their income.
"Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits… In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now."
John F. Kennedy

Bill Hedges of MO 1:00PM December 01, 2010

Giving Tax breaks to those that pay little or nothing in taxes(47.4 % ) much less Hire anyone are as stupid giving Small Business The Latest Bow and forbid him to have any Arrows in his quiver because of higher taxes , health care cost and countless Moronic regulations ..... Then through in the 1099 form for all over $600.00 in the {HEALTH CARE } BILL OF ALL STUPID THINGS .
If we can not get the Jobless down to 8 % ....... This Nations recovery will be years from now if ever .
Countless Social programs and entitlements is not the answer ..... FDR Proved that beyond a shadow of doubt ..... 1942 One month before WW2 STARTED .....WE HAD 22.3 % UNEMPLOYED IN AMERICA ..... TAXES OVER $100.000.00 ? Were 99.1 % .

Sam of VA 11:58AM December 01, 2010

To Bill Hedges of MO: If the rich pay more with the Bush tax cuts why would the rich want them extended indefinitely instead of letting them expire via the current debate in DC?

JC of RI 11:36AM December 01, 2010

Bill Hedges of MO, the shift to greater contribution to tax burden by the rich was not due to changes in tax law, it was due to increased income by the top income brackets that produced a slightly larger share of the aggregate tax revenue. The rich are getting richer in this country, the poor are getting poorer and the tax policy is part of the problem. A more progressive tax policy is the only way to correct that.

JC of RI 11:27AM December 01, 2010

“But the data does not support this conclusion. According to the non-partisan Congressional Budget Office (CBO), the Bush tax cuts actually shifted the total tax burden farther toward the rich so that in 2000-2004, total income tax paid by the top 40% of income-earners grew by 4.6% to 99.1% of the total.”
http://www.americanthinker.com/2010/03/lying_about_bushs_tax_cuts.html
Barry for war in Afghanistan.
Democrats who now are against war was then for the war:
http://www.snopes.com/politics/war/wmdquotes.asp

Bill Hedges of MO 10:59AM December 01, 2010

Thanks to Bush/Cheney where Cheney cast the deciding vote for tax cuts, where we are involved in two wars or choice, big payout to the Pharmaceutical companies, CEO of companies are making 400% more than their workers, where more companies have moved jobs overseas and still not pay any taxes, etc. and, yet, we have people who still insist that we need to lower taxes because we pay too much already especially the rich. Gee, under Eisenhower (a Republican President) the rich paid a heck of a lot more in taxes than they do now and the country thrived.
Sorry folks, but it is time to pay the piper. Let all the tax cuts expire, get rid of many of the loopholes and deductions, and start paying your share. Our kids and grandkids should not have to pay for our and our parents frivolities.

Tree Hugger of CO 10:26AM December 01, 2010

“CBO [nonpartisan Congressional Budget Office] report shows how 2004 income tax rates have dropped for everyone compared with tax laws in force in 2000.”
“The report also shows that Bush’s tax cuts have been “progressive” — that is, they have shifted the share of the overall federal income tax burden toward the wealthy and away from lower-income earners. Without the Bush tax cuts, the highest-earning 20 percent of households this year would have paid 78.4 percent of all federal income taxes. Now, after the Bush tax cutes, their share of the burden has risen to 82.1 percent. Every other group now pays a smaller share of the total income tax burden.”
http://www.diggersrealm.com/mt/archives/000068.html

Bill Hedges of MO 9:59AM December 01, 2010

FLAT TAX, FLAT TAX, FLAT TAX

Vinnie of PA 9:19AM December 01, 2010

I'm not up for paying more of my income to taxes. Isn't this just a return to the tax rate we had before we took a tax cut we couldn't afford? The last tax season we were hearing only 49% of Americans actually pay taxes. Maybe the loopholes should go away.

Ted of NH 12:32AM December 01, 2010

Uh....let me guess. We get screwed?

R.L. Schaefer of CA 10:45PM November 30, 2010

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What Happens If the Bush Tax Cuts Expire

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