Replies to post #150371 on Tornado Alley (PROG)

[StephanieVanbryce]

wow.. ......you've got an active imagination

[StephanieVanbryce]

There are no cuts in spending. There never will be and we all get to find out what raising taxes in the middle of a recession does!

I will address this part of your 'rant'

we all get to find out what raising taxes in the middle of a recession does!

The tax cuts did very little for the bottom 99 percent, however they gave MUCH benefit to the the TOP twenty, actually MORE to the TOP 10 and ONE percent than any other percentiles .. .Plus the Top Ten percenters, including both individuals & corps are sitting on vast amounts of money right now, here and in tax havens throughout the world .. . So ? .. It Will Not affect them much at all, it's just like another payment to them, will they WHINE ? ...sure, it's their greedy nature that causes that ....and NOT all of them will even WHINE, we have had the group - Billionaires for Raising Taxes - for some years now ..

[fuagf]

otcbargains, careful .. "Neither one of them wanted to take the heat for passing tax hikes"

Major initiatives

The following major changes were proposed to federal programs:

The Bush tax cuts in 2001 and 2003 were scheduled to expire if no action was taken. The Obama administration had proposed that the tax cuts would be allowed to expire only for individuals earning over $200,000 and families earning over $250,000. However in December of 2010 congress along with President Obama struck a deal to extend the said Bush tax cuts for another two years through the 2012 fiscal year. Current tax rates would remain as is for everyone across the board but payroll taxes would be lowered and the social security tax would be lowered by two percentage points.

Banks would face a $90 billion tax in total over 10 years.

More .. http://en.wikipedia.org/wiki/2011_United_States_federal_budget

Obama wanted tax hikes .. how could you suggest he didn't?