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Published byDenis Eric Williams Modified over 9 years ago
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Christina Clerk Matt Sussmane Christopher Michael Tien Blake Weissier
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If Tax Cuts are Kept What Will Happen? Tax cuts will put the country in an even bigger deficit Decreases governments revenue Important to note that increasing government spending, while decreasing the revenue put us in the recession that we are in now Deficit will put people out of jobs Quote from last website: “Bush’s economic advisers tried to talk him out of the rebate, but ran into a brick wall.”
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What do American’s Think? 51% of U.S. voters now support extending the Bush tax cuts for all Americans including the wealthy The wealthier will pay more money if the tax cut expires, lower incomers will be hit harder as they have limits in which they can live in “Raising taxes on the rich would add a new burden, in part because wealthy Americans make a significant contribution to overall consumer spending.” “…major tax increase would slow the economic recovery” --- Mr. Burman, of Syracuse University
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Democrats In favor for the tax cuts to expire Some Want to Extend All Bush Tax Cuts Senate Democrats postponed action on President Barack Obama's proposal to extend middle-class tax cuts until after the Nov. 2 election Bush lowered the taxes to 35% and 33%. Obama and the Democratic Party want to push the top rate to 44.6% Federal Reserve Chairman Ben Bernake favors the continuation of the Bush tax cuts The Obama, Reid and Pelosi power trip wants to raise taxes on "the rich” More taxes = less money to pay more employees
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Republicans Trusted more when the economy is involved Believe in: Reducing spending Job Creation = No. 1 issue Defending families against future tax increases Taxes shouldn’t be raised during periods of high unemployment Determined to help more Americans get back to work and develop policies that will support a healthy environment for small businesses.
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Tax Cuts For Everyone Everyone receives tax cuts. Each class receives a different tax cut. Benefits from tax cuts. President Obama’s tax cut plan. The pie chart: Percentage of economists surveyed by cnnmoney.com
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Bibliography http://seekingalpha.com/article/99318-tax-cuts-an-election-promise- not-easily-kept http://seekingalpha.com/article/99318-tax-cuts-an-election-promise- not-easily-kept http://www.thefiscaltimes.com/Issues/Taxes/2010/09/17/Bush-Tax- Cuts-No-Economic-Help.aspx http://www.thefiscaltimes.com/Issues/Taxes/2010/09/17/Bush-Tax- Cuts-No-Economic-Help.aspx http://thehill.com/blogs/on-the-money/domestic-taxes/123131-study- expiration-of-bush-tax-cuts-will-hit-poorer-workers-hardest http://thehill.com/blogs/on-the-money/domestic-taxes/123131-study- expiration-of-bush-tax-cuts-will-hit-poorer-workers-hardest http://www.csmonitor.com/Business/2010/0729/Bush-tax-cuts-Will- the-economy-suffer-if-they-expire http://www.csmonitor.com/Business/2010/0729/Bush-tax-cuts-Will- the-economy-suffer-if-they-expire http://www.rasmussenreports.com/public_content/business/taxes/se ptember_2010/51_favor_extending_bush_tax_cuts_for_the_wealthy http://www.rasmussenreports.com/public_content/business/taxes/se ptember_2010/51_favor_extending_bush_tax_cuts_for_the_wealthy http://money.cnn.com/2010/09/19/news/economy/what_to_do_econ omists_survey/index.htm http://money.cnn.com/2010/09/19/news/economy/what_to_do_econ omists_survey/index.htm http://money.cnn.com/2010/08/27/news/economy/bush_tax_cuts/ind ex.htm http://money.cnn.com/2010/08/27/news/economy/bush_tax_cuts/ind ex.htm
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