Posts Tagged ‘democrats’
Kiplinger Tax Letter February 19, 2010 (The Kiplinger Tax Letter)
Look beyond the upcoming FINAL health care vote. Other tax bills are making speedier progress,driven by congressional Democrats' continued worry that if the economy still sags come this November,their party will face a disaster in the voting booth. The result: More tax relief for businesses.Start with a tax credit to spur job creation. President Obama just signed a law exempting firms from paying Social Security tax this year for workers hired after Feb Read the rest of this entry »
Kiplinger Tax Letter February 4, 2010 (The Kiplinger Tax Letter)
Obama's timetable for tax hikes is in trouble. Democrats aren't fully supporting his plan. While Obama wants action this year on his proposal to end the Bush tax cuts for upper income taxpayers, some Democrats in Congress worry about losing seats in the Nov. elections and would prefer to delay a vote on his plan until the U.S. economy picks up steam. Obama wants to revive higher top tax rates...36% and 39.6%...in effect before the Bush tax cuts were OK'd in 2001. His budget plan for fiscal 2011 would start the 36% tax bracket at about $231,000 of taxable income for married couples and approximately $196,000 for single filers. Read the rest of this entry »