Bush tax cuts: What you'd pay under rival plans
July 25th, 2012
03:35 PM ET
2 years ago

Bush tax cuts: What you'd pay under rival plans

New York (CNNMoney) - Congress starts voting this week over competing proposals for how to extend the Bush tax cuts.

None of them is likely to be enacted as is - nor is the debate likely to be resolved before the November elections at the earliest.

FULL STORY

Filed under: Taxes
soundoff (22 Responses)
  1. Namejkane fl SEND THE THREE TIME LOSER romney HOME AND MAKE IT FOUR.

    Let the rich pay more ,they can afford it ,if you don't like it move in with mitt ,he can show you how to cheat like he and Ann do!!!!

    July 25, 2012 03:38 pm at 3:38 pm |
  2. Wire Palladin, S. F.

    Time to put our country first, let them all expire.

    July 25, 2012 03:43 pm at 3:43 pm |
  3. Nelson Colorado Springs Co.

    Let the President Bush tax cut for the rich expire. Republican Congress want extend these tax break and cut welfare and medicade. Go President Obama.

    July 25, 2012 03:45 pm at 3:45 pm |
  4. sonny chapman

    Isn't the Proposed Dem. Rates the same as when Clinton was Prez. ? How was the US Economy back then ?

    July 25, 2012 03:45 pm at 3:45 pm |
  5. Wes B.

    Dems want to increase taxes on rich. GOP want to increase taxes on the middle class and poor.

    I guess we know which party cares about the average person.

    Nothing new here.

    July 25, 2012 03:52 pm at 3:52 pm |
  6. Wire Palladin, S. F.

    Our country has always thrived under the higher rates, and have done poorly under the Trickle Down tax cuts for the wealthy. If Mittens and his extremely rich cronies save several million under the Bush tax cuts, they put it in overseas accounts. If the poor or middle class get tax cuts they put it back into the economy.

    July 25, 2012 03:55 pm at 3:55 pm |
  7. FORWARD into the Obama FISCAL ABYSS

    Let Democrat Taxaggedon befall the country, except include tax liability on all the free riderss not contributing to the defense of this country. NO MORE TAX FREE RIDERS!! Very poor, OK, you can slide. ALL OTHERS PAY. Tax EVERYBODY until the deficit does not exist.

    It is about time that the people in this country PAY NOW for the massive government they think they want but refuse to pay for. NO MORE laying the burden on the children, who have no vote. It is the WORSE form of taxation without representation. The kids should be revolting in the streets because of the size of the national debt THEY will be saddled with.

    Then and only then will you start to see cuts in government. Starving the beast doesn't work because the beast steals from the mouths of the kids. The beast must threaten the life of the hosts, AKA taxpayers, before the beast can be tamed.

    July 25, 2012 03:58 pm at 3:58 pm |
  8. Rudy NYC

    Bottom line under GOP plan: Under the Republican proposal, 15.4% of households would see tax increases, but the increases would primarily hit people making under $80,000, according to a new analysis from the independent Tax Policy Center.
    -------------
    There they go again. Those tax and spend Republicans. Tax the poor, spend more on defense, give tax breaks to the rich.

    July 25, 2012 04:05 pm at 4:05 pm |
  9. Four and The Door

    Hey, I have an idea! Cut federal spending and then we will not have to increase the money the government sucks out of the economy! Win win. The economy stays productive and deficits go down. What's not to like about that?

    July 25, 2012 04:10 pm at 4:10 pm |
  10. bIGBEAR

    I am so tired of this Trickle down BS, never has and never will work, Water and wealth rise from the bottom...

    July 25, 2012 04:18 pm at 4:18 pm |
  11. Rudy NYC

    Four and The Door

    Hey, I have an idea! Cut federal spending and then we will not have to increase the money the government sucks out of the economy! Win win. The economy stays productive and deficits go down. What's not to like about that?
    ----------------–
    Great idea. We can stop defending other countries, free of charge, and let them pay us to do it for them. We spend $800 billion per year. The next top defense spender is China at a mere $70 billion. I think we can make folks pay us to defend their countries for them instead of asking US taxpayers to do it.

    July 25, 2012 04:24 pm at 4:24 pm |
  12. FORWARD into the Obama FISCAL ABYSS

    OK, so tax the rich another $85 billion a year, who the hecks cares! Now lefties, TELL US WHERE YOU GET THE OTHER $1.2 TRILLION to balance the budget???? Let's hear it. We gave you what you wanted, a few billion. Now come clean.

    This is nothing but a smoke and mirror show people. Another Obama FARCE mean't to distract and divert your attention from the REAL PROBLEM, the $1.3 TRILLION DEFICIT and $16 TRILLION DEBT.

    The Obama Snake Oil Show must end in November of the country is doomed.

    July 25, 2012 04:25 pm at 4:25 pm |
  13. romneycares less

    Rmoney doesn't what his friends to feel any pain.
    OBAMA 2012!

    July 25, 2012 04:27 pm at 4:27 pm |
  14. King

    when will these repubs stop allowing the rich to suck up money out of our economy, starving it, then use our money to build china into the most powerful country on our planet. this trickle down crap needs to stop. it's been 11 years now, and the people can't see the devastating effect. tax the rich, and keep the money in our country to rebuild our infrastructure.

    July 25, 2012 04:29 pm at 4:29 pm |
  15. Shaylee

    The GOP plan got us here! Let them pay to help to get us out of this hole. Need to Raise taxes on all the companies that outsource/d jobs costiing us all the payroll txes that the Federal, State, Local governments lost also Med/SS , BWC & Unemployment! make them pay at least 15% more taxes then a company that keep jobs in the USA.
    ALSO I want to know if the GOP will appeal all the pork spending that they added to the health care bill? BET NOT!!!
    I pray that our people wake up and stop acting like a heard of sheep. WAKE UP

    July 25, 2012 04:36 pm at 4:36 pm |
  16. CanadaONE

    Canadians pay more taxes than Americans
    BUT
    Canadians have more disposable income per houesload than Amercians and the average moddle class family has
    more savings than Amercians
    and
    Canadians live longer

    WHY – balance between socialism and capitalism = true democracy

    GO AHEAD end the Bush tax cuts that put you in this MESS

    love
    Canada

    July 25, 2012 04:40 pm at 4:40 pm |
  17. rob

    There you go, raising taxes on the "Rich", that will solve all the problems we face. The tax increases proposed would pay for about two weeks of spending....THEN WHAT ?????

    Democrats are not serious about the financial and economic crisis we face. The Govt can not creat private sector jobs, it creates public jobs that need to be paid for with taxes collected from the private sector. If you continue to smother the private sector in the name of "Fairness" you will have less of it and therefore less revenues. Where do they think the money is going to come from to pay our almost $16 TRILLION DEBT ???

    July 25, 2012 04:45 pm at 4:45 pm |
  18. "If you've got a business, you didn't build that. Somebody else made that happen." --B. Obama

    Stop paying public sector unions with private sector taxes.

    July 25, 2012 04:46 pm at 4:46 pm |
  19. Four and The Door

    Rudy NYC
    ...We can stop defending other countries, free of charge, and let them pay us to do it for them. We spend $800 billion per year. The next top defense spender is China at a mere $70 billion. I think we can make folks pay us to defend their countries for them instead of asking US taxpayers to do it.
    ______________________________________________________________________________________________
    Yeah. We could do it like China and pay their military personnel $100 a month. That's one big reason our military budget is so expensive. Not the only one of course, but my point is probably it's not as direct a dollar for yuan comparison as you suggest. There is a lot of low-hanging fruit for cutting military budgets, but that's not nearly the biggest federal expense. What do you think is? That's right. Health care. Biggest monster out there. Medicare. But don't touch that! If you try and improve our Medicare system Democrats will cry that you are pushing granny's wheelchair off the cliff. Best to just ignore it and fight for higher taxes. Forever. Right?

    July 25, 2012 04:48 pm at 4:48 pm |
  20. FORWARD into the Obama FISCAL ABYSS

    CanadaONE – WHY
    ================
    Canada pays diddly for defense. Mooches off of the USA.
    Canada doesn't have an active invasion of their country by millions of people consuming government resources.
    Canada sells almost everything to the USA. Live next to a poor neighbor and what do you have? USA money built Canada.
    Canada has more bear than people. Nobody wants to live there, even the bears.

    July 25, 2012 04:48 pm at 4:48 pm |
  21. "I like to fire people" M Romney

    Hey "If you've got a business, you didn't build that. Somebody else made that happen." –B. Obama, stop blaming unions for your issues. You follow an ideology that not only favors the wealthy, it wants to push the non-wealthy down as much as it can. If you are not wealthy and are a Republican, you are an idiot. Simple as that. You're following leaders that care nothing for you, only for their own concerns. Conservatism is a smokescreen, a big lie you've chosen to buy into....

    July 25, 2012 05:07 pm at 5:07 pm |
  22. CanadaONE

    Dear – FORWARD into the Obama FISCAL ABYSS

    Try to get a REAL education!

    How much is the GOP paying you?

    July 25, 2012 05:08 pm at 5:08 pm |