Tag Archives: Tax cut

Taxes, Santorum, Part Of The Solution Or Part Of The Problem

The Republican candidate Rick Santorum has a tax plan that would cut taxes, for Americans, but increase the budget deficit by nine-hundred billion in a year. This was reflected in a recent study. The more the deficit increases, the less the American dollars is worth. His plan is a short term fix, with no long term benefits.

The taxes 2012 Santorum plan would create a substantial tax cut of approximately seven-thousand and eight-hundred dollars for about sixty-nine percent of Americans. The problem with his proposal is that the households, which would benefit the most, are the richest ones in the … Read the rest

Congress Urged By A Group Of Millionaires To Increase Their Taxes

On June 6, a day before the 10th anniversary when Bush tax cuts in 2001 were enacted, a group of rich Americans recommended that taxes be raised on individuals who earn beyond $1 million.

A conference call to House Speaker Boehner (R-OH) was made by a group of patriotic millionaires suggesting that the Bush tax cuts should be terminated for those who earn more than $1 million. With this, tax rates would increase. These tax cuts were extended in 2010 and to expire within two years.

The group further argued that revenues generated from this tax cuts expiration could then … Read the rest

Bush Tax Cuts Do Not Need a Tax Extension

According to the Economic Policy Institute (EPI) it has been ten years since the tax cuts from former President George W. Bush were passed into law, and people are still unhappy about the outcome of the tax reductions.  People believe that the tax cuts were useless, very expensive, and not fair to all Americans.

EPI wants what is best for the economic status of the middle- and low-class Americans.  While doing some research, they found ten things about the Bush Tax Cuts that are important to know and understand.

1. The tax cuts helped out the wealthy more than anyone, … Read the rest

Political Revenge? GOP donors reap the benefits from the biggest tax breaks.

Political Revenge? GOP donors reap the benefits from the biggest tax breaks.

The largest tax break introduced by Gov. Rick Scott and the Republican-controlled legislature will allow many homeowners in Palm Beach County to save money by cutting $28 from property taxes 2010 owed in the coming year.

For many of the biggest companies in the state to include those who were big contributors to GOP election campaigns last year, the tax reduction will save these companies a lot of money. Most are expected to save well into the hundreds of thousands in terms of dollars and some may even … Read the rest