How high will taxes go after Election '08?

Question

If you want a house or a new car, farm or to start a new business you better do it under Bush, otherwise you won't have enough money to buy food if the Dem's sweep in '08!

Answer 1

bostonianinmo: A "typical middle class stiff" like you IS RICH according to the Democrats. I have looked at their plan and 'fairness' by any definition, has nothing to do with it.

As for Clinton's tax increase, the economy was flourishing for more than 20 years UNTIL he raised taxes. His increase ENDED that. The current deficits are caused by BOTH parties SPENDING. Actual tax revenues set record HIGHS under the Bush tax CUTS.

Answer 2

With the democrats in congress now we won't have to worry about how high taxes go as the country is going into a recession, depression and down the tubes now. High price of gasoline will strangle the economy and speed the collapse.

Answer 3

If Dem's take it, you'll probably see a system come in like we have here in Canada. Moderately high taxes, better social programs, less military spending, but quite a bit of incentives for lower income families. In Canada they tend to "sock it to you" if you are a high-income individual. But, I don't think the Dem's are going to try make Americans "poor". I'm sure you'll still be able to buy houses, cars, farms, and be able to start businesses. :)

Answer 4

If you're wealthy, watch out! The party will be over, well and truly. But, then again, you can afford it.

If you're a typical middle-class working stiff like me, you might even see a bit of relief thrown your way. My gutshot guess is that the PMI deduction (new, but for 2007 only) will become permanent, along with some realignment of tax rates for folks who earn less than about $150k.

If you paid any attention to the Dem's plans you'd note that it's about everyone paying a fair share and the working class gettinng some of the breaks that the Rep's threw to the rich. It's about damn time, too!

Don't forget that the Clinton administration RAISED taxes and the economy flourished! Interest rates were never lower and everyone made out like a bandit. He left office with the first budget SURPLUS in nearly 40 years. The current moron in the WH captained the WORST budgetary deficits in HISTORY, greater than ALL of the combined deficits of ALL administrations in history COMBINED. Even if you factor out Katrina and Iraq, there is still nearly $7 TRILLION missing. Where's the money??

Answer 5

if democrats have their way in 08, our taxes will go through the roof. They are already proposing a 200 billion dollar tax increase.