White House: Threat of tax hikes could lower consumer spending during holiday season

  • Article by: JIM KUHNHENN , Associated Press
  • Updated: November 26, 2012 - 5:54 AM
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punky2012Nov. 26, 12 6:28 AM

So going back to Democrat tax rates under Bill Clinton would be bad for the economy? Then why did Bill Clinton and his Democrat Congress raise taxes in the first place??? Naturally, Obama makes no mention of the impact higher tax rates will have on job-creating investment. Hint: higher tax rates lead to less investment. Shhhhh! Don't tell the Democrats, they don't want to hear it. Rich people are E-V-I-L especially when they are investing to create jobs.

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worldcitizenNov. 26, 12 9:30 AM

"the Bush tax cuts" So George cuts taxes and the country goes broke. Worse than broke, trillions in debt with no legitimate way to pay for government. As a fiscal conservative I'm puzzled why the Republicans think these tax cuts were a good thing.

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theagonygopNov. 26, 12 9:38 AM

punky2012: "Naturally, Obama makes no mention of the impact higher tax rates will have on job-creating investment. Hint: higher tax rates lead to less investment." Another right-wing myth. As taxes go up on businesses, they invest more in deductible things such as equipment and employment. They get more productivity and no higher taxes. As for individual "investors" tax rates do not affect their investments in companies. And, their investment in companies does not create jobs; otherwise, we'd have full employment right now after 10 years of rock-bottom taxes. I might suggest that you get off the couch and take a tax or economics class. Fox News and FBN have no knowledge of how taxes affect hiring.

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