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Thread: Key Tax Breaks at Risk as Panel Looks at Cuts

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    Key Tax Breaks at Risk as Panel Looks at Cuts

    Key Tax Breaks at Risk as Panel Looks at Cuts
    Sacrosanct tax breaks, including deductions on mortgage interest, remain on the table just weeks before the deficit commission issues recommendations on policies to pare back with the aim of balancing the budget by 2015.

    The tax benefits are hugely popular with the public but they have drawn the panel's focus, in part because the White House has said these and other breaks cost the government about $1 trillion a year.

    At stake, in addition to the mortgage-interest deductions, are child tax credits and the ability of employees to pay their portion of their health-insurance tab with pretax dollars. Commission officials are expected to look at preserving these breaks but at a lower level, according to people familiar with the matter
    Deficit Panel Targets Areas to Cut - WSJ.com

    How quickly one recalls:
    Barack Obama Campaign Promise No. 515:
    No family making less than $250,000 will see "any form of tax increase."


    "I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes."
    PolitiFact | No family making less than $250,000 will see "any form of tax increase." - Obama promise No. 515:

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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    let me know when the deficit panel makes law.........

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by liblady View Post
    let me know when the deficit panel makes law.........
    I think his point was that according to Obama's promises, these should not even be on the table.

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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by liblady View Post
    let me know when the deficit panel makes law.........
    Maybe, rather than trying to avoid the issue, you could explain why the reduction of these deductions/credits are on the table at all...?

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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by Whovian View Post
    I think his point was that according to Obama's promises, these should not even be on the table.
    it's a PANEL that will make recommendations. as i said, let me know when they make law, or better yet, let me know when obama breaks that promise.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by Goobieman View Post
    Maybe, rather than trying to avoid the issue, you could explain why the reduction of these deductions/credits are on the table at all...?
    how would i know? i'm not a member of that panel. and neither is obama.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by liblady View Post
    how would i know? i'm not a member of that panel. and neither is obama.
    Whatever it takes to defend The Obama, I guess...

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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by liblady View Post
    it's a PANEL that will make recommendations. as i said, let me know when they make law, or better yet, let me know when obama breaks that promise.
    the one about taxes? He already has.

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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by Goobieman View Post
    Whatever it takes to defend The Obama, I guess...

    nothing to defend, he hasn't done anything. as i posted, let me know when he breaks that promise.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Key Tax Breaks at Risk as Panel Looks at Cuts

    Quote Originally Posted by Whovian View Post
    the one about taxes? He already has.
    I guess this means we can expect The Obama to veto these tax hikes.

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