OBAMA LIES, DEMS LIE TAXES ARE GOING UP
Then the contention that 98% will get a tax cut is also a huge lie because the supposed tax cut is only renewing the Bush cuts which are currently in place. So instead of letting them expire come January first Obama ,"plans," to extend them calling it a tax cut when all that is happening is the current tax rate remains the same.
That is IF and this is a big if, the lame duck Congress even gets around to considering extending the tax cuts. As many of you will recall the Bush tax cuts only passed Congress originally with an end date of December 31, 2010. Not completely what Bush wanted but the only way he could get enough Democrats on board to get the tax cuts through Congress in 2001. Since then every time Republicans have tried to make the cuts permanent Democrats have killed the debate with Pelosi NEVER allowing it to come to committee or the House floor.
Now as the deadline is here, Democrats chose NOT to deal with the cuts before the mid term election so they could go home and campaign WITHOUT having a certain tax increase approved for at least a portion of their constituency, if not all. Congress will not reconvene until November 15, well after the mid terms.
News from the Treasury Department just released adds to the mix about the Bush cuts and now it is almost certain that EVERYONE will have a tax increase come January first. Treasury releases new tax tables to employers on November first, a full 15 days BEFORE Congress reconvenes. The reason for the November release is to allow enough time for employers to get the new tax tables into payroll systems in order for to start in January for the first payroll period of a new year. This time table is necessary for business and payroll taxes and not subject to change.
The Bush tax cuts will end December 31 so the new tax tables will be based on the ending of the Bush cuts. So January first EVERYONE will get a huge tax increase no matter what Congress does. Congressional Democrats have already announced plans for an aggressive legislative agenda on returning after the mid terms and dealing with the Bush cuts WAS NOT part of that initial agenda. The tax cuts might be discussed by mid December if at all but it is not likely to even make it to debate since Democrats already know tax tables have been released and the cuts already set to expire.
So the deceptiveness of Obama and Democrats especially in the light of the election as the party who cares about Americans and decreasing taxes is just another liberal politics as usual. Obama and his party NEVER intended to deal with the Bush cuts and used the issue ONLY as a ploy to try an dupe voters into believing they wanted to,"cut taxes," while their intent all along was to allow the largest tax increase across the board in American history. Not just the top 2% but ALL American tax payers will pay HIGHER taxes thanks to Obama and Democrats. Remember this when you go to the polls on November 2.