The clock is ticking for Congress to decide the fate on the Obama tax cuts. Will they pass in time for end of the year tax planning?
As of right now, the tax brackets are up in the air, you can estimate what your taxes might look like with the 2011 tax calculator.
Our current tax cuts expire this year. Here’s a summary of which Bush tax cuts expire in 2010.
Congress continues to debate the possibility of 2010 tax cuts, and often change their opinion by the day.
So what do you think, where will we end up? Will the Bush tax cuts be extended?
* This poll is closed. *
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I think they’ll pass for one reason: The dems will say that tax cuts for the rich are out of the question.
Then they’ll put the ball in the republicans court with one question: Are you willing to oppose our legislation that will reduce taxes for 97% of Americans?
I think they’ll have a difficult time explaining why they let the tax cuts expire rather than helping out 97% of Americans.
I thought Obama’s plan was just to extend Bush’s tax cuts for everyone under 250k? That be the case why are we calling it the Obama Tax Cuts? Unbiased journalism? I think not.
Good question John, I don’t know where the name Obama Tax Cuts came from.
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