7/09/2012

Obama: Tax Pledge? I'm Raising Taxes On EVERYONE After The Election

Posted by Brian
Obama, with his usual backdrop of hapless dupes behind him, announced that he is extending the "Bush" tax cuts for Americans who make less than $250K/yr. for one more year, after which they automatically increase for all Americans.

Taxes on business who make over $250K will see their tax rates jump to 39%.  Any guesses on what effect that will have on small-business hiring?

Obama Proposal Increases Tax Rates for All Income Brackets
by 2014 By Matt Cover July 9, 2012

(CNSNews.com) – President Barack Obama today proposed allowing the income tax rates enacted in the Bush tax cuts of the last decade to expire at the end of this year for people earning more than $250,000 and at the end of next year for everyone else.

Under current law, the lower tax rates will expire at the end of 2012. Under Obama's proposal, they will expire at the end of 2012 for those making more than $250,000 and at the end of 2013 for Americans making less than $250,000.

Video: Obama with his obligatory photo props (dupes) behind him

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