Tags: obama | boehner | bush | tax | cuts | pelosi | democrats

GOP: Threat of Tax Increase Hurting Economy

Sunday, 05 Sep 2010 04:53 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Leading Republicans and business executive are telling the Obama administration that uncertainty over its intentions to either extend or end the Bush tax cuts is damaging the economy. Liberal and conservative Democrats are engaged in a fierce debate over whether to allow rates on upper income households to rise next year. Income taxes haven’t increased yet, but the mere prospect that they will is bad enough, these experts say.

“Right now, America’s employers are afraid to invest in an economy stalled by ‘stimulus’ spending and hamstrung by uncertainty,” House GOP leader Rep. John Boehner said in an economic speech last month in Cleveland, The Hill reported. “The prospect of higher taxes, stricter rules, and more regulations has employers sitting on their hands.”

The right-leaning National Association of Manufacturers also raised the uncertainty worries in a study the group released this week, according to The Hill. “Uncertainty about looming tax hikes has stunted employment growth and until Main Street begins to hire, the unemployment rate will remain unacceptably high,” the study said.

Tax cuts ushered in by President Bush and a Republican-controlled Congress in 2001 and 2003 are set to expire at the end of the year. So are low tax rates on dividends and capital gains.

President Obama wants to raise taxes on individuals making more than $200,000 and households with incomes above $250,0000. Obama would reinstate the 36 and 39.6 percent rates on upper-income taxpayers. Obama also wants to raise taxes on dividends and capital gains.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved