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Although one ratings agency has stripped France of its AAA status.
It is not unusual for politicians to avoid some ugly truths during elections; but it is unusual, in recent times in Europe, to ignore them as completely as French politicians are doing.
The WH has spent the last couple of years swaying the public when it comes to "tax the rich".
They are evil, greedy, corrupt people who hoard their money. They are the 1% and justice needs to be done because America is hurting.
It takes work to get the crowd on your side and worked up to support extreme changes.
That's what activists do. And America is falling for it..hook, line and sinker.
The U.S. House of Representatives voted to extend tax cuts through 2013 for all income levels, defying a veto threat from Obama and setting up a partisan showdown on fiscal policy after the Nov. 6 election. The bill passed on a 256-171 vote.
Without Congressional action before the end of the year, just about everyone, rich and poor alike, will be hit by tax increases. These increases are the result of temporary tax benefits that will expire at the end of 2012.
without Congressional action, those reduced rates will return to the higher rates that were in effect prior to 2001. The table below compares the current marginal individual tax rates to the anticipated rates for 2013 and subsequent years. Everyone's taxes (except for the poor on welfare) marginal tax rate will increase.
These increased rates will apply to all varieties of ordinary income, including interest, dividends, short-term capital gains, employment income, etc. Marginal tax rates increase as a taxpayer’s overall income increases. ALL TAX PAYERS
President Obama vowed to veto any bill that extends the Bush-era tax cuts “across the board. Obama is playing chicken with ALL American taxpayers and the military. To date, nothing is being done about the expiration of the Bush tax cuts and it will be pushed past election.
The Federal Reserve Board Chairman had a stern warning today for Congress: “Taxmaggedon” is real, it’s coming and only lawmakers can save the nation from falling off this rapidly approaching “fiscal cliff.”
Bernanke said. “But I urge Congress to come to agreement on that well in advance so as not to push us to the 12th hour. But again, I think that trying to put our fiscal situation on a sustainable basis is perhaps one of the most important things that Congress can be working on.”
Jan. 1, your taxes will rise dramatically if Congress and President Obama fail to strike a deal that keeps the lid on federal tax rates.
For politicians, Taxmageddon is the gift that keeps on giving. They put off the crisis until January 1, and then they’ll put it off again, just in time for the 2014 midterm elections. So Democrats and Republicans alike will be able to tell their constituents they struck a deal that kept taxes low.
For Democrats, the implication will be that if voters elect that crazy right-wing GOP tea-party guy (who would be disinclined to cut deals with Democrats), Taxmageddon will become reality.
President Obama vowed to veto any bill that extends the Bush-era tax cuts “across the board. Obama is playing chicken with ALL American taxpayers and the military. To date, nothing is being done about the expiration of the Bush tax cuts and it will be pushed past election.
The Federal Reserve Board Chairman had a stern warning today for Congress: “Taxmaggedon” is real, it’s coming and only lawmakers can save the nation from falling off this rapidly approaching “fiscal cliff.”
Bernanke said. “But I urge Congress to come to agreement on that well in advance so as not to push us to the 12th hour. But again, I think that trying to put our fiscal situation on a sustainable basis is perhaps one of the most important things that Congress can be working on.”
Actually the Republicans are holding our country hostage with this all or nothing. I think the best thing to do is to get rid of the Bush tax cuts and start over trying to pass them for each income group.
France didn't have the guts to cut spending on their largest deficits since WWII. (French without guts, who would have known?) Their plan is to raise taxes on the rich and business to 75%. What they are too stupid to see is that growth in the economy will be non existent and their deficits will get worse. When Romney wins, there will be an influx of French entrepreneurs to the US.
this shows the iq of the common republican.... so raising taxes to 75% is the same thing as allowing a temporary tax break expire?
France didn't have the guts to cut spending on their largest deficits since WWII. (French without guts, who would have known?) Their plan is to raise taxes on the rich and business to 75%. What they are too stupid to see is that growth in the economy will be non existent and their deficits will get worse. When Romney wins, there will be an influx of French entrepreneurs to the US.
Talking about posting in a vacum. Seriously. . .
1) tax rates for other countries located near france, and where does this place france
2) companies needs (some companies just don't move)
3) france isn't a hotbed of innovation anyway, unless you are in baked goods
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