Posts Tagged ‘Bush tax cuts’

Apparently young adults and Latinos didn’t get the memo …

August 1, 2012

A question in the most recent McClatchy poll caught my eye …

The question: Should Congress extend the Bush tax cuts to everybody or “only to the middle class”?

I always expect this question to come out 98% to 2% in favor of hiking taxes on the “other guy”.

So, I was surprised to see the overall count at 52% to 43% in favor of extending the current tax rates for everybody.

Gets even more interesting …

Latinos are 62% to 36% in favor of extending for everybody.

Young adults 18 to 29 weighed in 69% to 29% in favor of extending to everybody.

So, two of Obama’s key constituencies seem out of line with respect to the President’s line in the sand re: jacking up taxes on the rich.

Hmmm.

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Tipping point ?

February 24, 2012

As far back as July, 2008 we warned that under Obama: “Tax Payers Will Become a  Dwindling Majority”

To be fair, as the original post outlines, much of the credit (blame?) goes to Bush and the unintended consequences of his tax cuts.   They started the momentum.  Obama just pushed down on the accelerator.

Well, as predicted, we’re approaching the tipping point.

According to the Heritage Foundation, only half of U.S. citizens pay federal income tax, according to the latest available figures.

In 2009, just 50.5 per cent of Americans paid any income tax to the federal government – the lowest proportion in at least half a century

We warned you …

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