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Thread: chart of the week - future US budget deficits versus tax changes

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    Banned Melonie's Avatar
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    Default chart of the week - future US budget deficits versus tax changes

    It would appear that there is little doubt that the gov't will allow the 2001/2003 Bush income tax cuts to expire, as well as allowing the Alternative Minimum Tax 'patch' to expire, at the end of this year.






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    Default Re: chart of the week - future US budget deficits versus tax changes

    Hey wait...this is actually good news! The current administration is going to rectify a bad policy decision by a previous administration....and let those tax cuts expire. Smart. I like it.

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    Default Re: chart of the week - future US budget deficits versus tax changes

    ^^^I'm sure that you DO think this is a good idea, Bobby. One of the 'unintended' consequences will be to increase de-facto US labor costs to the point where they are again equal to or more expensive than Canadian labor costs !

    The more important question is how many Americans think this is a good idea ... after 1/2 trillion dollars worth of annual tax increases hits US taxpayers earning more than $60,000 per year just in time for the 2012 election.

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    Default Re: chart of the week - future US budget deficits versus tax changes

    Quote Originally Posted by Melonie View Post
    ^^^I'm sure that you DO think this is a good idea, Bobby. One of the 'unintended' consequences will be to increase de-facto US labor costs to the point where they are again equal to or more expensive than Canadian labor costs !

    The more important question is how many Americans think this is a good idea ... after 1/2 trillion dollars worth of annual tax increases hits US taxpayers earning more than $60,000 per year just in time for the 2012 election.
    Ahh...our competitiveness with US products and services goes up and down with fluctuations in exchange rates and other factors. I doubt anyone is dancing in the aisles over tax increases in the US.

    Our leadership chose to cut the Goods and Services tax (GST) from 7% down to 5% for ideological reasons precisely at a time when the revenues would have ensured we could sail through this recession without incurring a deficit. Conservatives everywhere are one-trick-ponies.

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