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Reply #3: All of those except payroll tax reduction (which is new bill) were part of the 2001/2003 tax cuts. [View All]

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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-07-10 11:31 PM
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3. All of those except payroll tax reduction (which is new bill) were part of the 2001/2003 tax cuts.
Edited on Tue Dec-07-10 11:37 PM by Statistical
The child tax credit went from $600 to $1000. The marriage penalty was eliminated on those making less than $150K taxable. The lifetime learning credit (college tuition) was expanded. The EIC rules were changed to allow "higher" income families to qualify.

"These other cuts were Obama tax cuts and stimulus, not the "bush tax cuts" we've been discussing. "
Not true. None of those were "Obama tax cuts" or "Stimulus".

Obama has signed a single tax cut so far. It is the making work pay credit. $400 per person for 2009. It was renewed in 2010. For 2011 there will be the 2% payroll holiday and an extension of Bush tax cuts.
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