Timing of tax increases
Reader comment on: Obama's Press Conference
Submitted by Fred Van Bennekom (United States), Jul 12, 2011 08:46
Pres. Obama's call for the tax increases to take effect on 1-1-13 is actually doubly sly. First, he wants to forestall the impact of tax increases on economic growth until after he is re-elected. Second, knowing that a tax increase takes effect on 1-1-13 would lead those of us who can (legally) shift some of our revenue and expenses to increase our net income in 2012 thus making the economy look better for the election.
Why don't the Republicans call his bluff. Agree to tax increases on the "millionaires" as long as they take effect this coming January?
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