Thursday, February 23, 2012
In the News Today
TAX INCREASES - HANS BADER
Openmarket.org:Taxmageddon Comes Just After the Election
On December 31, shortly after the November election, tax rates will rise across the board in what congressional aides call “Taxmageddon,” notes The Washington Post. Not only will the Bush tax cuts come to an end, but new taxes will kick in to pay for Obamacare’s rising costs. And this doesn’t even take account into new tax increases Obama has proposed, including but not limited to the “Buffett Tax.” Liberals want to raise taxes to European levels to pay for an expanded welfare state. But many American wealthy people already pay more in taxes than they would in much of Europe, so this idea won’t pay for all the new government entitlements liberals yearn for. > Read the full commentary on Openmarket.org
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