{"id":155,"date":"2010-02-02T16:42:24","date_gmt":"2010-02-02T21:42:24","guid":{"rendered":"http:\/\/000af36.netsolhost.com\/wordpress1\/2010\/02\/02\/taxes-reconciliation\/"},"modified":"2010-02-02T16:42:24","modified_gmt":"2010-02-02T21:42:24","slug":"taxes-reconciliation","status":"publish","type":"post","link":"http:\/\/griendling.com\/wordpress1\/2010\/02\/02\/taxes-reconciliation\/","title":{"rendered":"Taxes &amp; Reconciliation"},"content":{"rendered":"<p>The headline on an <a href=\"http:\/\/news.yahoo.com\/s\/ap\/20100201\/ap_on_bi_ge\/us_budget_taxes_5\" target=\"_blank\">AP story yesterday<\/a> blares:&#160; Obama budget would impose host of tax increases.&#160; The stories initial paragraphs outline the scenario:<\/p>\n<blockquote>\n<p>The budget proposal released Monday would extend Obama&#8217;s signature Making Work Pay tax credit \u2014 $400 for individuals, $800 for a couple filing jointly \u2014 through 2011. But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.<\/p>\n<p>\u2026In all, Obama would increase taxes on some businesses and wealthy individuals by a total of about $1.4 trillion over the next decade, while cutting taxes for middle-class workers and other businesses by about $330 billion. The bottom line: Tax receipts would increase by about $1.1 trillion over the next decade.<\/p>\n<\/blockquote>\n<p>I wonder if the Dems are smart enough to repeat this mantra:<\/p>\n<blockquote>\n<p>We are following the intent of the 2001 and 2003 tax cuts, which were designed by George Bush and the Republican majority in Congress to expire next year.&#160; We are simply following their wishes, except that we are extending the tax cuts for middle income Americans.<\/p>\n<\/blockquote>\n<blockquote>\n<p>Oh, and by the way, these tax cuts were passed through a budget reconciliation process that Republicans are now decrying as undemocratic. <\/p>\n<\/blockquote>\n<p>Dems, repeat and repeat and repeat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The headline on an AP story yesterday blares:&#160; Obama budget would impose host of tax increases.&#160; The stories initial paragraphs outline the scenario: The budget proposal released Monday would extend Obama&#8217;s signature Making Work Pay tax credit \u2014 $400 for individuals, $800 for a couple filing jointly \u2014 through 2011. But it would also impose&hellip; <a href=\"http:\/\/griendling.com\/wordpress1\/2010\/02\/02\/taxes-reconciliation\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[52,7,32,15],"tags":[],"_links":{"self":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/posts\/155"}],"collection":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/comments?post=155"}],"version-history":[{"count":0,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/posts\/155\/revisions"}],"wp:attachment":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/media?parent=155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/categories?post=155"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/tags?post=155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}