White House Could Protect Middle Class From Tax Hikes If Deficit Talks Falter

Discussion in 'Economy' started by TruthOut10, Dec 11, 2012.

  1. TruthOut10
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    TruthOut10 Active Member

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    The White House has the power to temporarily protect taxpayers from middle-class tax hikes even as upper income rates rise if Congress does nothing and all of the Bush-era tax rates expire in January.

    Experts and lawmakers alike agree that Treasury Secretary Timothy Geithner has the power to adjust how much is withheld from paychecks for tax purposes — for all taxpayers or just for some.

    White House could protect middle class from tax hikes if deficit talks falter - The Hill's On The Money
     
  2. martybegan
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    martybegan Platinum Member

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    I love the smell of a constitutional crisis in the morning, it smells like victory.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Dat's right ' Michigan's a real showcase, ain't it?...
    :eusa_eh:
    Obama: Look at Michigan to See How Unions Built America's Middle Class
    December 10, 2012 – Speaking at the Daimler Detroit Diesel Plant in Redford, Mich., on Monday, President Barack Obama lashed out at the Michigan legislature, which is preparing to pass a right-to-work law, and declared that Americans only needed to look at Michigan if they wanted to see how unions helped build the middle class.
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    December 11, 2012 - In the public schools in Detroit, Mich., according to the U.S. Department of Education, only 7 percent of the eighth graders are grade-level proficient or better in reading.
     
  4. RetiredGySgt
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    RetiredGySgt Diamond Member

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    Unless the rates are returned then all that will do is ensure that at the end of the year those people OWE actual money to the Government.
     
  5. EdwardBaiamonte
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    EdwardBaiamonte Platinum Member

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    why protect them when they pay so little??? The top 1% pay 40 % of all taxes; aren't they the ones who need to be protected??
     

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