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  • 27
  • wisenekt
    10:31am - Fri Nov 30th, 2012
    Two things:
    1. The Bush tax cuts are just that, cuts, so if they expire it will not be a tax increase, it will just be the end of what was just supposed to be a temporary cut that has been extended.

    2. We will go over the cliff because no one in Congress wants to get along and work for the common good of America. However though, probably in late January they will throw some half-donkey proposal together to kick the can down the road and just tell the American people that they "owe them one" and will correct it on the tax filings.
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  • josephz2va
    12:37pm - Fri Nov 30th, 2012
    Bush Tax Cuts
    "Before the tax cuts, the highest marginal income tax rate was 39.6 percent. After the cuts, the highest rate was 35 percent." - Wikipedia

    That quote being said, if the tax cuts are allowed to be removed, the marginal income tax rate will increase. Many fear it will not be 39.6 percent. My fear is that it will go all the way up to 50 percent. Removing half of your income.
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  • wisenekt
    2:05pm - Fri Nov 30th, 2012
    Citation please?
    All I have heard is removing the Bush tax cuts, not an additional tax.
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  • stealthboy
    10:50am - Fri Nov 30th, 2012
    Stop using that word
    "Cliff"?. There is no cliff. The supposed cuts are just changes so we increase spending at a slightly lower rate than before. All spending is still going up.

    The simple fact is that we have a government that is too expensive and our country cannot afford it. Giving it *more* money to waste is not the answer.

    And this whole "fair share" crap? Why is it a valid assumption that all money belongs to the government anyway? The only "fair" thing to do is let more people keep more of their own money. You want "fair" tax? How about get the 50% of the population that pays ZERO tax to pony up just a bit. Let's start at $100. See how that goes.

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