Ail said:
mrstickball said:
Ail said:
Taxes won't raise on the poor and middle class, congress and Obama will come to some kind of agreement...Worse case they will add 6 months to the Bush tax cuts to give themselves time to work on it... All sides agree on this, the issue is that the republicans want to keep Bush tax cuts for the rich too ( people making over 250k/year) and Obama doesn't and the republicans are saying we want to handle all the tax issues at the same time . Basically they are taking the middle class tax hostage to solve the tax for the rich, although you have to understand them, there doesn't need a vote to raise taxes on the rich, it will happen automatically on January 1st so if they don't tie what they want as part of a deal on taxes for poor/middle class ( which would need a vote and that's where Obama needs them) they will get screwed in the end...
I do agree with Obama though, there is no historic evidence that cutting taxes on rich boost heavilly the economy. Cutting taxes on poor/middle class does however as it boosts consumers purchases...
96% of business with more than 50 employees currently offer healthcare so the impact of Obamacare on business will not be that huge...
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"The president will note that the CBO report states that most of the impact of the tax cuts relates to those wage-earners who make less than $200,000 a year. Extending all the Bush-initiated lower rates would boost GDP by 1.4% and help create 1.8 million jobs, the CBO report states, while allowing their expiration for those higher wage earners while maintaining the lower rates for those making $200,000 a year and less would boost GDP by 1.3% and generate 1.6 million jobs."
If you continue the cuts on the rich as well, it helps. That's the bottom line, really. I do agree that in comparison to a middle/lower class tax cut, it pales in comparison to the boost.
