Circumnetting on Taxes

By August 5, 2010General, Taxation

The Hill, “Reid plans September showdown on extension of tax cuts“: ” Senate Democrats will hold a September showdown over trillions of dollars in expiring tax cuts passed under President George W. Bush.” 

AP covers Treasury Secretary Geithner’s speech at the Center for American Progress on Wednesday, in which he disavowed the economic value of maintaining lower tax levels, “Geithner: Extending tax cuts for wealthy a mistake.”

At Shopfloor, the  NAM’s Dorothy Coleman explains in rebuttal that the term “wealthy” also includes many, many, many small businesses and manufacturers who file as S Corporations.

AB Stoddard of The Hill mentions the NAM in this column, “Battle over tax-cut data“: “Democrats are in a corner on the tax-cut debate, and they know it. If they follow President Obama’s plan and allow tax relief for the top earners to expire, they get blamed for the ‘biggest tax hike in American history.’ But if they extend more than $3 trillion in tax cuts, most of them originally voted against in 2001, they get blamed for the biggest deficit in history.

New York Post,The people speak: Keep Bush tax cuts“: “Americans by a wide majority want to extend former President George W. Bush’s tax cuts, and more than half believe that letting them expire will further hurt the country’s shaky economy…Fifty-four percent said they wanted the Bush cuts to stay in effect, according to the Rasmussen survey of 1,000 likely voters taken Aug. 1 and 2.”

Bloomberg,New Jersey Voters Want Spending Cuts Over Higher Tax Following Budget Deal“: “New Jersey voters support lower spending over higher taxes by almost three to one after the state passed a budget which cuts funds for welfare, mental health and in-home nursing care, a survey shows. The state should ‘hold the line[‘ on spending even if that results in cuts to ‘many’ programs, according to 60 percent of the respondents to a Fairleigh Dickinson University PublicMind survey, released today [Aug. 4]. That compares with 22 percent who say the state should raise taxes to support services if necessary.”

Los Angeles Times, “San Diego to do the unthinkable: seek a tax hike

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