Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax Hikes

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

Is this because the Bush Tax cuts are about to expire? If thats the case, you can't call it a tax increase, when those tax cuts were never paid for.

I didn't read the article, Im just assuming.

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

You are right, I used poor terminology as well as a poor assumption in philosophy, what I meant to say, those tax cuts weren't offset by a decrease in spending, the spending actually increased.

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

good observations and that had not crossed my mind. expiring tax cuts are far from new taxes. and those cuts should have been offset by a spending decrease as mm pointed out. something presidents or congress from both parties have been loathe to do.

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

I want to first of all thank you for being civil about it.
If you read the article which no one seems to do it does talk about 20 tax increases due to Pelosi Care.
The Bush tax cuts do expire but that happens around the same time taxes begin for Pelosi Care.
The article says the first wave is the Bush tax cuts followed by the second wave which is Pelosi Care.

Btw You don't do these types of increases, you shouldn't do any of them at all due to
the recession.
SAVE THIS THREAD because the economy is going to tank, get worse because of these increases.
I hope I am wrong!

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

I agree raising taxes right now in the middle of a recovery and recession is bad. However, during a recession gov't spending is necessary in places like infrastructure and aid to the unemployed or we could be in a double recession without these things. Im not saying you spend wildly, you just focus on a few areas to aid the recovery and cut taxes to try to create jobs. Thats my opinion.

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

As much as I can agree with this, it is kinda hard for the gov't to cut and spend. The biggest problem I see with the gov't spending on the infrastructure right now is that it continues to go to the same recipients over and over again, and in some cases on projects that are in some ways completely useless. I guess it pays to be a huge political backer, lobbyist, and/or special interest group.

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

I pretty much agree with your post here but we may differ to the extent of spending by government?
You should spend on unemployment and government services however I believe the dems have gone to far by implementing health care taxes at the same time the tax cuts expire especially in this economy.
I don't think this even takes into account the taxes that will have to be in place to help bring down the deficit?
Someone help me out here?

If I may say one more thing, we can't pay unemployment to the same people forever.
While I agree it is necessary it seems to have gone a little to far!

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

This is how things should work. Unfortunately, we've been overspending during non recessionary periods so now that we need to overspend to kickstart the economy, we're getting dangerously close to overwhelming debt. At this point, we have to take our medicine and get our spending in check. That's potentially much worse long term than a prolonged recession in my opinion. But as always, per Red, balance is needed.

 

Re: Six Months to Go Until The Largest Tax Hikes in History Six Months to Go Until The Largest Tax H

I agree that is the issue as it stands, that annual interest payment continues to grow and its a worry. We do have to get our spending in check and that includes taking a hard, long look at the wars and defense spending or is that a carte blanche issue with you and others right now?