Bush-Era Tax Cuts Will Cost U.S. Nearly $1 Trillion Over Next Decade
The Huffington Post | By Harry Bradford Posted: 08/25/2012 9:59 am Updated: 08/25/2012 10:02 am
Keeping tax cuts for the wealthy could cost the U.S. big time.
Letting the Bush-era tax cuts of 2001 and 2003 expire on schedule at the end of 2012 would bring the government nearly $1 trillion in revenue over the next 10 years, according to a new report from the Congressional Budget Office. That’s $823 billion in added revenue and $127 billion in interest to be exact, for a total $950 billion in ten-year deficit reduction.
The House voted in favor of extending the cuts earlier this month, but Obama has vowed to veto the measure, and lawmakers are likely to address the dispute after the elections. For his part, President Obama has said he supports extending the cuts for the middle class, or those making less than $250,000, while returning to the rates seen under President Clinton for anyone making more.
http://www.huffingtonpost.com/2012/08/24/bush-era-tax-cuts-revenue-expire_n_1828657.html
tax the rich. hit them hard. make the rich finally start paying their fare share, and please include their pensions, stock options, annual incentive, etc., because taxes on one million salary is one thing, but taxes on annual incentive, stock options, and other perks, well, that's another story. tax it all the same. this is the top paid exec. out of 100 examples in Houston area alone recently ;
base salary $1,400,000.
Annual incentive $21,821,400.
total equity $6,414,055.
all other comp $276,207.
change in pension $1,617,757.
Total direct compensation $31,529,419.
see top 100 Houston, Texas area
http://fuelfix.com/blog/2012/07/30/pay-swells-for-top-bosses/
SHOW US YOUR TAX RECORDS MITT, ALL OF THEM !
The Huffington Post | By Harry Bradford Posted: 08/25/2012 9:59 am Updated: 08/25/2012 10:02 am
Keeping tax cuts for the wealthy could cost the U.S. big time.
Letting the Bush-era tax cuts of 2001 and 2003 expire on schedule at the end of 2012 would bring the government nearly $1 trillion in revenue over the next 10 years, according to a new report from the Congressional Budget Office. That’s $823 billion in added revenue and $127 billion in interest to be exact, for a total $950 billion in ten-year deficit reduction.
The House voted in favor of extending the cuts earlier this month, but Obama has vowed to veto the measure, and lawmakers are likely to address the dispute after the elections. For his part, President Obama has said he supports extending the cuts for the middle class, or those making less than $250,000, while returning to the rates seen under President Clinton for anyone making more.
http://www.huffingtonpost.com/2012/08/24/bush-era-tax-cuts-revenue-expire_n_1828657.html
tax the rich. hit them hard. make the rich finally start paying their fare share, and please include their pensions, stock options, annual incentive, etc., because taxes on one million salary is one thing, but taxes on annual incentive, stock options, and other perks, well, that's another story. tax it all the same. this is the top paid exec. out of 100 examples in Houston area alone recently ;
base salary $1,400,000.
Annual incentive $21,821,400.
total equity $6,414,055.
all other comp $276,207.
change in pension $1,617,757.
Total direct compensation $31,529,419.
see top 100 Houston, Texas area
http://fuelfix.com/blog/2012/07/30/pay-swells-for-top-bosses/
SHOW US YOUR TAX RECORDS MITT, ALL OF THEM !