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Friday, March 14, 2008

Tax time blues.

My Way News - Budget Would Torpedo Bush's Tax Cuts:
"The House passed its $3 trillion budget plan by a 212-207 vote. It would provide generous increases to domestic programs but bring the government's ledger back into the black, but only by letting all of Bush's tax cuts expire at the end of 2010 as scheduled."
And before people start going "well those only help the rich" no they don't .... this includes things like the extra tax credits for people with children, the penalty relief for being married, and finally it will re-inact the death tax - you know the tax where the government will get almost 1/2 your estate when you die leaving your grieving family quite the tax bill to pay when you die.

If you think that this will cost you less -- you better think again.
If you think that they are only going to let this effect families with incomes of $150,000 you better think again.

Under this plan you can bet that the new lower-upper class will become the current middle-class, and the new middle class with be the current lower-middle t0 upper-lower class.

It is all a numbers game and the politicians know how to manipulate them to make their side look the best.
"...Democrats argued that when the time comes, they'll renew tax cuts aimed at the middle class by closing billions of dollars worth of corporate and other tax loopholes. They also say billions more can be raised by cracking down on tax cheats...."

Translation: when they get their candidate into office and the dems hold both houses, they will make it look like they are helping the people but tax the companies they work for so much that the companies will pack up and move to another country.
Now another way to read this is that the Democrats know that the tax cuts they are doing away with HELP THE MIDDLE CLASS now but they are using them as pawns in their politican games! That's worse in my mind than the republican taxcuts for the rich---it means the democrats don't really care about the people, we are all just pawns in their games.
"...In the House, Democrats defeated a GOP plan that would have extended Bush's reductions. The Republican plan also would have eliminated the alternative minimum tax, which was originally designed years ago to make sure rich people pay at least some tax but now threatens more than 20 million additional taxpayers with increases averaging $2,000..."
Yes because it was designed to help MORE people OVER TIME, not just for the moment .... but the media wouldn't tell you that would they? No because it would mean that the Bush administration actually did a good thing by looking more forward. And if the cuts remain in place they will continue to help millions more. And admitting the others are right and you were wrong, just isn't good 'politics'
"...The first year of an administration is typically when heavy lifting on the budget is done, but all the candidates' campaign plans seem to promise more than they can deliver. McCain's tax cuts would require applying a meat cleaver to spending, while the Democrats promise spending that would enlarge the deficit or require large tax increases...."
So they openly admit that McCain will be the better tax plan for the average American over those of Clinton or Obama. Of course it will never happen if we don't have at least one of the houses of congress controlled by the republicans this round as well.

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