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DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » The payroll "tax&quo... » Reply #34

Response to W_HAMILTON (Reply #7)

Tue Jan 1, 2013, 08:17 PM

34. But they're not being made permanent. Nothing in politics is permanent.

The Clinton tax rates were "permanent" until Congress voted for the bush cuts, which lowered taxes for 10 years and were then to revert to the baseline established by the Clinton rates.

This legislation doesn't make the bush tax rates any more "permanent" than were the Clinton rates. It simply makes the bush rates the new baseline, a baseline that Congress can increase anytime and for any reason they so choose. The legislation removes the sunset aspect of the bush rates, which means they don't have an expiration date that needs to be constantly extended and reauthorized.

Nothing is written in stone when it comes to tax rates. If this bill gets enacted into law, Congress could come back latter and raise the tax rates on people making over $250,000 if they wanted.

The use of the word "permanent" in this discussion is overheated political rhetoric.

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WCGreen Jan 2013 OP
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LineLineReply But they're not being made permanent. Nothing in politics is permanent.
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