How Expiration of Bush Tax Cuts Affects Typical Families

The Tax Foundation's research on the pending expiration of the Bush tax cuts was highlighted on CNBC's "Street Signs" on July 6, 2010. As part of a series answering frequently asked questions about the Bush tax cuts, the Tax Foundation examined how the tax liabilities of typical families would be affected under three scenarios: if all the Bush tax cuts expire, if they are extended into 2011 or made permanent, or if President Obama's proposed combination of some expirations and extensions becomes law.

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News & Politics

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• tax foundation
• cnbc
• street signs
• bush tax cuts

[lillatmd]

Taking 1/3 of the family business(paid for with hard earned after taxed money) is called a tax cut ? Dems are slick spinners!

[flashback950]

Surely you jest...your facts are absolutely incorrect.

[scrapdaddy811]

@flashback950 the debt created by the bush admin is just a drop in the bucket compaired to what Obummer has done in just 2 years, further more 75% of Bushes debt came at the hands of the democrap congress from 06 on. the government could take 100% of the income of the top 2% and it wouldnt put a dent in the dumocraps spending. you tell me what is more greedy the rich wanting to keep more of what they have earned or a bloated waistful government that thinks they are intitled to 40% there $

[teton99]

The Left argues that taxes wouldn’t really be raised, they would just return to levels pre 2003. This is true but during the late 90s and up until 9/11 our economy was growing by leaps and bounds due to the dot-com revolution. Now our economy is barely breathing and its future is uncertain. Matt Grossman

[mos12010]

Bill Clinton raised taxes on the top 2% => 24 million private sector jobs, 4 straight years of balanced budgets

George Bush lowered taxes on the top 2% => LOST 673 thousand private sector jobs, added $6.7 trillion to the debt

The reason republicans ALWAYS destroy American jobs is because their "tax cut policy" is delusional.

[amitp2]

@flashback950

You can look at the statistics yourself. Unemployment fell after tax reductions.

Fhit hit the san for various reasons. Tax reduction is not one of them.

And in case you don't know let me tell you that raising taxes reduces the government revenue and increases flight, fight & fraud (Laffer curve). And just because you went bust, doesn't make it a rule. I know other small business owners who prospered during that time.

[flashback950]

@amitp2 You mean the unempoyment didn't grow under BUSH until the itshay hit the fan! Please, look into how many jobs were added over the period of the BUSH tax cuts. Then YOU decide if the ginormous debt we have incurred is worth the short term gratifacation! YOu decide if you want our kids, grandkids, great-grandkids, etc. to carry this irresponsible burden!!! I am a small business owner in the construction industry...what do you think happened to me and my family? Guess; Shifting sands!!!

[TheMEK3]

This woman is so beautiful.

[amitp2]

@flashback950

When the bush cut taxes, the unemployment fell below 5%.....

If you were not amongst those who got hired...well...that says something about you.

[flashback950]

@amitp2 Did you even listen to this video? The job numbers ARE right and Bush's Tax cuts for "small business" didn't do SQUAT creating many jobs. They have NEVER been paid for and Americans are eating it for this irresponsible decission. So, let them... EXPIRE-EXPIRE-EXPIRE!!!!