Will Obama's tax cuts start on this year's taxes?

[panader0]

Or do we have to wait until next year?

[MEDICONCALL]

1. Tax cuts

I am going to take a wild guess and say next year as I dont think he can make it retroactive

[KingFlorez]

2. Next year

The way the fiscal year works, any changes would take effect in the next fiscal cycle. That's if it gets passed.

[Sherman A1]

3. No matter who's plan we end up with

there is this little matter of Congress and having to pass through those chambers before being enacted into law.

I wouldn't count on any campaign promise by either side regarding taxes

[NewEngland4Obama]

4. why vote if neither is good for their word?

[Sherman A1]

6. You missed the point

which is that any tax plan must pass through Congress and will without a doubt be subject to significant modification. The President, whoever it happens to be, can only make suggestions on tax policy. It must be developed and enacted by Congress (specifically the House of Representatives) or nothing happens. So candidates can offer any plan they want... It is Congress that makes the decisions on what actually goes into the bill.

[snappyturtle]

5. Amen. nt