Economy could suffer if tax cut, jobless aid end

[Javaman]

http://finance.yahoo.com/news/economy-could-suffer-tax-cut-021413219.html;_ylt=AlMXXd41zzj_mRywHkHEJHaiuYdG;_ylu=X3oDMTQzMDduOHZsBG1pdANGaW5hbmNlIEZQIEp1bWJvdHJvbiBMaXRlBHBrZwMzNmQ4YjgxOS04NmVmLTMzNmItOTljZC1hOTJhMGExZDBiMTQEcG9zAzEEc2VjA2p1bWJvdHJvbgR2ZXIDYjAyNDIzNTAtMTU3OS0xMWUxLWJmZWYtMjY2OTJmNzY4MTU4;_ylg=X3oDMTFvdnRqYzJoBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

WASHINGTON (AP) -- A tax cut that reaches 160 million Americans and government aid for the long-term unemployed will expire at the end of the year — sucking $165 billion out of the economy next year — unless Congress takes action.

Economists hoped the so-called congressional supercommittee would decide whether to extend both measures. But the committee couldn't even agree on how to reach its main goal, cutting $1.2 trillion from the federal budget deficit.

If the tax cut goes away, the average family would pay about $1,000 more in taxes next year, the equivalent of an extra tank of gas every two weeks. Someone earning $100,000 would pay $2,000 more.

And if long-term unemployment benefits are allowed to expire, about 6 million people would lose weekly checks averaging about $300. For most of the long-term unemployed, that is their main source of income.

more at link...

[Bandit]

1. I say bull shit

The greatest economic expansion in our nation's history happened after taxes were raised during a recession... Every single Republican stood in lock-step against those tax increses. All saying they would destroy what was left of our nation's economy.. The exact opposite happened..You have adopted Republican ideology with this idea any tax increases would harm our economy..

[Uben]

2. Funny, GHW Bush and Clinton both raised taxes......

...and we enjoyed on of the most prosperous times in this nation the years following.

[Autumn]

3. Well Obama can renew his tax cuts for the wealthy.

That will fix it.



:rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

[SammyWinstonJack]

4. I am sure he will do just that and does anyone think that the greedy filthy rich will

EVER be made to pay their fair share in taxes?




I think they know they won't.