Monday, July 26, 2010

Bush Tax Cut expiration could cost nearly 50% more in taxes

for a married couple filing jointly with a combined income of $100,000. So much for sticking it to the "rich." From an WSJ Blogs. Follow the links to see how much it might cost you and your "rich" family.

Meanwhile, George Steinbrenner's family saved millions because old George checked out during the year when there are no death taxes due. Nevertheless, I applaud the repeal of the death tax. Income and property that a man has spent his life earning, legally, while paying his taxes, should not be taxed again when he dies. Even if he is rich as a fat bastard Teddy Kennedy.

1 comment:

  1. Lip,

    O.K., reverted to my original template. The new designed sucks I will..well, read all about it over there.

    But this is probably where our Pantywaist POTUS gets his ass handed to him big time. The tax cuts expire after the election and, by all accounts, this should bring an almost-moribund economy to its knees, choking on fumes.

    If congress gets reshuffled, then I am wondering how the Republicans play this? Bring an extension bill up and let the shell-shocked democrats kill it. Or, if it is passed, does the POTUS veto it? And, if he does, and the economy still stagnates, what's he say? "Well i let the tax cuts expire and that did not hurt us as bad as the Republicans said it would?

    Also wonder what will his numbers be like? We might see mid-thirties approval by mid-2011.

    Any way you play it, it is not a good thing for this walking, talking pile of horse manure.