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Thursday, Apr 24, 2014
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JB  
WA  
April 18, 2009 12:44am
 
The Obama administration is not raising taxes; overall they are actually lowering them. It is only people who are making $250k or more whose taxes are being raised. I've heard the term "income redistribution" being tossed around by Bill O'Reilly at least as one of the opposing points towards Obama's form of taxing. However, this is more like a reversal of the income redistribution of the Bush administration's taxation reductions for the rich. On top of that, it isn't anything drastic; merely a return to the high-income tax rates of the Clinton administration. Here's another thing: the Bush tax cuts have not expired yet, they expire at the end of this year (in case you didn't know).
     
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