View Poll Results: Should the 2001/2003 GWB tax cuts be extended for people that make under $250k?

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Thread: Should the 2001/2003 GWB cuts be extended?

  1. #1
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    Should the 2001/2003 GWB cuts be extended?

    Per The Omaba's FY2011 budget proposal:

    Continue the 2001 and 2003 tax cuts.
    —Most of the tax reductions enacted in 2001 and 2003 expire on
    December 31, 2010. This includes reductions in marginal
    tax rates, marriage penalty relief, expansions in
    the child tax credit, increases in small business expensing,
    preferential rates for capital gains and dividends,
    and reduction and repeal of estate and gift taxes. The
    Administration’s baseline projection of current policy
    continues all of these expiring provisions (as amended by
    subsequent legislation),5 except for repeal of estate and
    generation-skipping transfer taxes. Estate and gift taxes
    are assumed to be extended at parameters in effect for
    calendar year 2009 (a top rate of 45 percent and an exemption
    amount of $3.5 million).
    http://www.whitehouse.gov/omb/budget...s/receipts.pdf

    Should the 2001/2003 GWB tax cuts be extended for people that make under $250k?
    Why or why not?

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    Re: Should the 2001/2003 GWB cuts be extended?

    No, not with the budget deficit as high as it currently is.
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    Re: Should the 2001/2003 GWB cuts be extended?

    They should be extended. Obama is a moron for not doing so... You shouldn't spend your way out of a recession. It's almost like this president wants to rape, then murder, then beat, and then desecrate the grave of prosperity.

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    Re: Should the 2001/2003 GWB cuts be extended?

    I don't think the GWB tax cuts should be extended. However, I do think that Congress should pass a new tax cut law. Increase taxes on some of our wealthiest 1% and cut taxes on our middle class. That will help spur government revenue and our economy.

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    Re: Should the 2001/2003 GWB cuts be extended?

    For the middle class, yes. For the upper class, no.

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    Re: Should the 2001/2003 GWB cuts be extended?

    Quote Originally Posted by samsmart View Post
    I don't think the GWB tax cuts should be extended. However, I do think that Congress should pass a new tax cut law. Increase taxes on some of our wealthiest 1% and cut taxes on our middle class. That will help spur government revenue and our economy.
    Increase those taxes and you lose capital for investment and expansion of the private sector. Way to go, genius!


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    Re: Should the 2001/2003 GWB cuts be extended?

    The upper class should still receive tax cuts. It's not fair to make them pay extra to off set damage done by an arrogant president who isn't fiscally responsible. The upper class are our investors and job creators, to stimulate employment there must be less taxes being taken from all classes of people. Obama needs to act like an adult and stop spending what we don't have. Tax cuts should be for everyone, we can't spend our way out of a recession.

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    Re: Should the 2001/2003 GWB cuts be extended?

    Quote Originally Posted by digsbe View Post
    The upper class should still receive tax cuts. It's not fair to make them pay extra to off set damage done by an arrogant president who isn't fiscally responsible. The upper class are our investors and job creators, to stimulate employment there must be less taxes being taken from all classes of people. Obama needs to act like an adult and stop spending what we don't have. Tax cuts should be for everyone, we can't spend our way out of a recession.
    It just shows how little you know about the Bush tax cuts. They weren't for everybody...they overwhelmingly rewarded those making in excess of 200k a year.
    Also...it is small businesses that are the economic backbone of this country that generally are investing in our economy. These are not the people making 200,000 a year.
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    Re: Should the 2001/2003 GWB cuts be extended?

    Quote Originally Posted by Goobieman View Post
    Per The Omaba's FY2011 budget proposal:


    http://www.whitehouse.gov/omb/budget...s/receipts.pdf

    Should the 2001/2003 GWB tax cuts be extended for people that make under $250k?
    Why or why not?
    I'm OK with extending them for people making under $250K. I'm completely against extending them for wealthy people though. The government needs to balance its budget.
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    Re: Should the 2001/2003 GWB cuts be extended?

    Quote Originally Posted by megaprogman View Post
    For the middle class, yes. For the upper class, no.
    I'm curious.

    What IS middle class.

    I suppose it depends on your location, partially.

    It seems likely that families making slightly < or exactly $250,000 per year would, in some areas, be middle class.
    Education.

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