An Obama win means Taxmageddon

[Draggingtree]

Washington Examiner:

 

 

 

Morning Examiner: An Obama win means Taxmageddon

byConn Carroll Senior Editorial Writer

 

If American voters reelect President Obama, they have no right to complain when their taxes go up by $494 billion on January 1st. That is the total amount taxes are set to increase, automatically if Congress does not pass, and Obama does not sign, tax relief before December 31st of this year.

In the current edition of The New Yorker, Ryan Lizza reports that unlike 2010 and 2011, Obama is prepared to follow through on his threat to let taxes go up after he no longer has to face voters ever again: “Several White House officials I talked to made it clear that if a deal, or at least the framework of a deal, is not reached before December 31st Obama would allow all the Bush tax cuts to expire – Read More

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/morning-examiner-obama-win-means-taxmageddon/593586