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Obama must break his tax promise

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Between now and the November elections, the biggest political fight in the US is likely to be about taxes. Unless Congress acts, big tax cuts enacted in 2001 and 2003 during George Bush’s presidency will expire at the end of the year.

With the recovery faltering, Republicans and Democrats understand that reversing all of the cuts so soon is a bad idea, but this is where their agreement stops.

In reality Obama has already broken his tax promise. Federal taxes have doubled on many items and services already.

That “Not one penny” of tax promise was broken within his first year as President.

via FT.com / Columnists / Clive Crook – Obama must break his tax promise.

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Written by admin

August 2, 2010 at 7:56 pm

Posted in Obama, Taxes

Tagged with ,

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