Posted on 01/03/2013 5:58:34 PM PST by MinorityRepublican
Princeton, New Jersey (CNN) -- Somewhere in Texas, former President George W. Bush is smiling.
Although some Democrats are pleased that taxes will now go up on the wealthiest Americans, the recent deal to avert the fiscal cliff entrenches, rather than dismantles, one of Bush's signature legacies -- income tax cuts. Ninety-nine percent of American households were protected from tax increases, aside from the expiration of the reduced rate for the payroll tax.
In the final deal, Congress and President Barack Obama agreed to preserve most of the Bush tax cuts, including exemptions on the estate tax.
When Bush started his term in 2001, many of his critics dismissed him as a lightweight, the son of a former president who won office as result of his family's political fortune and a controversial decision by the Supreme Court on the 2000 election.
(Excerpt) Read more at cnn.com ...
Does the author really believe Obama will allow the Bush tax cuts to stand?
Yup, W was the worst ever President for encouraging more people keep their own hard-earned income. Shame on him.
...and he didn’t sell his ranch to Al Jazeera.
Obama will always be in the shadow of George Bush.
Please explain to me how the “Fiscal Cliff Deal” is such a good thing for the average American when 80% of us will see at least a $1000/year increase in withholding.
Pay check to pay check is how most Americans live. This increased withholding will be felt immediately by most of us.
There was nothing "controversial" about it. It was a simple matter of the Florida Supreme Court vs. the USSC. Florida Supreme Court tried to change things mid-stream - the USSC rightfully said Florida can't change it's election process against it's own election process.
Exactly. CNN should be ashamed for perpetuating the Democrat Party’s Orwellian false hgistory.
Time-Lies. Boycott Time-Warner-Turner.
No talk ever about the controversial way Obamacare was passed with the buying off of Democrats’ votes, the stolen seat by Al Franken, and the selected-not elected replacement for Dead Red Ted Kennedy.
How is it liberal to be opposed to increased taxes?
No, I don’t think I should be forced to participate in Social Security or pay for medicare. The Federal government should not be in charge of those things. People should be responsible for their own retirement and healthcare. If the government spent and taxed less, people who have more money to save for the future. A lot of people wouldn’t do that, but I certainly would.
In reality, the income tax has never be a tax on wealth or wealthy people. It has often been a disproportionate tax on high earners but they are not normally the very wealthy. Protection for ultra wealth are still in place and will remain so.
Bush the idiot.
“Please explain to me how the “Fiscal Cliff Deal” is such a good thing for the average American when 80% of us will see at least a $1000/year increase in withholding....Pay check to pay check is how most Americans live. This increased withholding will be felt immediately by most of us.”
IF you want Social Security to still be there, then that pain you feel is necessary. Bottom line was that Obama was STUPID to have reduced witholding on Social Security as an “economic stimulus.” With Social Security being on shaky ground, it is foolish to think that a continued reduced witholding was anything but folly.
I understand that some of this is supposed to pay for social security. However, as I wrote earlier, I don’t think the government should be in the business of social security in the first place. Our government is already broke and is just playing a shell game with our money. Why should I give the Federal government more money throughout the year? That little bit of withholding means a lot more to me than those in Washington who are just going to mismanage it anyhow.
There’d have been no fiscal cliff if Bush had been a better leader,.
Ninety-nine percent of American households were protected from tax increases, aside from the expiration of the reduced rate for the payroll tax. In the final deal, Congress and President Barack Obama agreed to preserve most of the Bush tax cuts, including exemptions on the estate tax.Oooh, "President Barack Obama" -- nice detail for people who'd forgotten his first alias.
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