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Htar

What they really think

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I'm not really sure what kind of substance these protests have. I'm referring to the basic principal behind their organization which is "no new taxes". Although Obama's budget is still in House comittees being revised, I've read it and for 98% of us making below 150K and 90% of us making between 150-250K (I'm talking about joint returns here), we will not see any income tax increases. Plus the estate (death) tax exemption is to stay at 3.5 million (it was only 650K ten years ago). Plus the tax increases for the wealthy are only going up to the Bill Clinton rates which is only 3-5% higher than now. And none of this is supposed to start until 2011.

Granted, Congress can change this plan but the rumblings seem to be that they want to cut some his spending plans (like universal healthcare) and not increase taxes more.

I've got plenty of issues and concerns with our all Dem controlled gvt. on the federal and state level but people really need to educate themselves before protesting.

But...But...But...Socialism!?!

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I'm not really sure what kind of substance these protests have. I'm referring to the basic principal behind their organization which is "no new taxes". Although Obama's budget is still in House comittees being revised, I've read it and for 98% of us making below 150K and 90% of us making between 150-250K (I'm talking about joint returns here), we will not see any income tax increases. Plus the estate (death) tax exemption is to stay at 3.5 million (it was only 650K ten years ago). Plus the tax increases for the wealthy are only going up to the Bill Clinton rates which is only 3-5% higher than now. And none of this is supposed to start until 2011.

Granted, Congress can change this plan but the rumblings seem to be that they want to cut some his spending plans (like universal healthcare) and not increase taxes more.

I've got plenty of issues and concerns with our all Dem controlled gvt. on the federal and state level but people really need to educate themselves before protesting.

Will your taxes increase or decrease when Obama/democrats allow the Bush tax cut to expire?

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Will your taxes increase or decrease when Obama/democrats allow the Bush tax cut to expire?

Captial Gains going from 15% to 20% would be the main negative impact on me and even that will not be too bad in my case. Congress is debating whether or not to keep it 15% for some making below 100k. Not sure what will happen with that.

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Well said Murph. We're witnessing the mob mentality that anyone of intelligence should be against.

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Cutting taxes while raising government spending to fight wars is stupid. Keeping the stupid tax cuts while raising spending to fix the economy would be stupider.

According to the tax plans floated, I would pay maybe a bit less but not a lot as far as I can tell, and the majority of people would be in the same boat. Eventually taxes will have to go up I think, but raising them now would not be a good idea - they should have either been raised, or the "tax cuts" taken back, as soon as Bush saw the way the economy was going and how his spending was increasing - the economy would have been able to absorb it a little better then.

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FWIW, I doubt many of those folks that attend these rallies understand the tax code or much about it. Their knowledge of the tax code is probably about as expansive as Fiz's knowledge of the military.

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