Obama to Raise Taxes on 940,000 Households, Says: “I’m Not Proposing Anything Radical

Discussion in 'Politics' started by Stephanie, Jul 9, 2012.

  1. Stephanie

    Stephanie Diamond Member

    Jul 11, 2004
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    Posted by Jim Hoft on Monday, July 9, 2012, 11:33 AM
    Barack Obama held a press conference today to announce that he was going to raise taxes on top American producers.
    He told the press, “I’m not proposing anything radical here.”

    Obama’s tax hikes will affect 940,000 American households.
    Bloomberg reported:Obama Plan Means Higher Taxes on Business Profits: Study
    http://www.bloomberg.com/news/2012-...html&utm_campaign=1424243_209305_RNC Research

    President Barack Obama’s plan to raise tax rates for the top 2 percent of U.S. households would mean higher taxes on the people who report 53 percent of business income reported on individual returns, according to the Joint Committee on Taxation.

    The nonpartisan analysts prepared the data at the request of Republicans on the Senate Finance Committee. Orrin Hatch of Utah, the panel’s top Republican, said the document was “irrefutable proof” that tax rates shouldn’t go up.

    “With our economy as weak as it is, it makes absolutely no sense to hit more and more small businesses with a tax hike,” he said in a statement.

    the rest here
    Last edited: Jul 9, 2012

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