Cycloptichorn wrote:Foxfyre wrote:Cyclop writes
Quote:Well, it isn't a tax increase.
If I pay in 2009 or 2010 a whole lot more taxes on the same amount of money than I am paying in 2008, I call that a tax increase. I don't care what anybody else wants to call it.
But, you understand that it won't be Hillary or Obama who made that happen. At all. The laws lowering the taxes were
written that way by Republicans in Congress, and the bill was signed by Bush in the WH.
It's not as if there will be any legislation passed - there won't be. So it's fallacious to say that it's an increase; it's just returning to the normal state that it was at before Bush signed a LIMITED TIME tax break.
Okie,
Quote:
Eliminating previous reductions of tax rates is not a tax increase.
But, nobody is eliminating anything. The reductions were always a limited-time offer. You understand this, right?
Cycloptichorn
Wordplay.
The practical effect is that people will pay more taxes than they did before.
It won't be the "fault" of a President Obama or a President Clinton unless congress sends to one of them a bill which extends or makes permanent the cuts and they veto it.
It will be the "fault" of congress if they do not send such a bill to whomever is president.
The temporary nature of the tax cuts was a political compromise made to assure passage, and not the intent of the bill's sponsors or President Bush. You will recall that he began calling for them to made permanent almost immediately after he signed the bill into law.