Taxes Ain't For No Sissy.

Here's an interesting little tidbit that will happen starting in September. You'll hear a whole lot about it between then and election day. It seems that the Republicans and two Democrats in congress have decided that the Bush Tax Cuts should be extended permanently. To do this, they're willing to cut Social Security, Medicare and Medicaid, and unemployment benefits. Now they won't say that. They'll just say that some cuts to the budget will be necessary and that they're willing to have the Finance committee figure out where to make the cuts. But most of the money that committee has any control over, are those mentioned. Especially when it comes to the three trillion necessary to extend those tax cuts. The Democrats, and one lone Republican want to eliminate the tax cuts for anyone earning over $250,000, although the Republicans will keep telling you it will hurt small businesses. Here's the thing about that argument. This tax won't be on the total income of businesses, it'll be on the net profits. So, after all the bills are paid by those businesses, heat, lights, product purchases, payroll, insurance, other taxes and etc, the money that goes into the pocket of the owners, after their paychecks, is what will be taxed. How does that hurt the small businesses? It will only hurt the owners if they're making more than $250,000. By the way, it will only take them back to what they were paying before President Bush was elected. So, although you'll hear a lot about tax increases, it's really about eliminating some tax cuts given by Mr. Bush. And that was done because the government had a surplus built up by President Clinton. That surplus disappeared and now we are in the hole. Keep in mind the only people that will pay more then they did last year are those making over $250,000. So, how much are you making?