Policy for the World We Live In
Over at Tax.com a gentleman by the name of David Windish is making the point that by December 2012 the Bush era tax cuts will be more than a decade old and will have been a fixture of the tax system, not a temporary measure.
|If you are wealthy, |
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In December 2012 (or January 2013) there are four things that will, or will not happen.
- The Congress will not pass any law which extends only the tax cuts for those making less than $250,000.
- The Congress will pass a law extending or making permanent all of the Bush era tax cuts.
- The President, if it is a Republican will sign such a law.
- The President, if it is Mr. Obama will sign such a law.
Anyone advocating tax policy needs to start with what the law is today, and look at changes from. The idea that the
U. S. will go back to era tax rates is not credible. Clinton
Also, anyone advocating tax policy needs to start with the position that revenue increases will not happen. The reason for this is that revenue increases will not happen.