Most Americans Favor Keeping All the Bush Tax Cuts for Now

[hermit]

Quote from apama1:

The people who will be hurt the most (but unlikely do not know they will be hurt) if the Democrat-controlled Congress allows the Bush tax cuts to expire will be the working poor. The Bush tax cuts lowered the lowest tax bracket from 15% to 10% and raised the bottom of that bracket. That means that the working poor will see their taxes increase by at least 50%. Some people who pay no taxes, that is, those who make more than the old bottom of the lowest bracket and the current bottom of the lowest tax bracket will be shocked that they will go from paying $0.00 on their earnings over the old bottom of the old bracket to paying 15.00% on that amount.

Not really.

http://online.wsj.com/article/SB10001424052748704719104575389540592147682.html

 

[hermit]

Quote from Wallet:

Humm...... single parent one child 25K, taxes go up over 20%???

The opposite.

 

[Wallet]

Quote from hermit:

The opposite.

According to the graph I stand corrected

 

[omegapoint]

They should be put back to where and when it only took one income to run a household and lets try demand side economics.\
again.

 

[Wallet]

Dump it all for a consumption tax, give a rebate for those under a certain level if you feel the need, exempt medicine and food. Everyone pays, even those who profit illegally plus it encourages saving.

 

[Hello]

We should create a new "Government spending" tax, for every new spending bill a member of congress introduces, or votes for, they lose 10% of their income for the year. Lets see how anxious these big spending dems are to spend us into oblivion after that.

 

[Mercor]

Quote from hermit:

Not really.

http://online.wsj.com/article/SB10001424052748704719104575389540592147682.html

You changed the hypothesis. What he was saying was if only the Bush tax breaks were extended then the rates would go up a lot for the very poor.

The chart you list is only true if the Bush rates are extended and then additional laws are put in place to give back those tax breaks to the poor that Bush was so generous with.