On CNBC’s Nov. 11 “Squawk on the Street,” Rial Moulton, co-founder of Retirement & Tax Planning Specialists, explained why it’s important for those who invest for the long-term, specifically retirement, to be abreast of what happens with the Obama administration and tax policy in the next month and a half.
“Well, it's a very troubling year as you pointed out, because we're not sure what’s going to happen – whether they will extend the tax cuts or not,” Moulton said..." Market to Take 'One Hell of a Hit' in Mid-December if Bush Tax Cuts Expire
Do you plan to invest differently? Do you support the largest tax hike in history if the Bush tax cuts expire? Ex 20:15.
Related:
[Obama the Tax Cutter: A Network Fairy Tale: Despite Obama's tax hikes and campaign against 'tax cuts' for the wealthy, broadcast evening news shows portray president as taxcutters' champion.] "...Obama declared, “I will cut taxes – cut taxes – for 95 percent of all working families.”
Instead of attacking tax cuts, like the news media had under President George W. Bush, the networks embraced Obama’s “ambitious agenda” on taxes. NBC’s Carl Quintanilla made Obama’s tax policies sound like a better deal for the “average” family on Sept. 22, 2008, saying “A middle-class household earning $38,000 to $66,000 a year would get an average tax cut under McCain of $325, under Obama $1,100.”
After Obama was elected president, the networks touted his “$287 billion” in tax cuts in the $787 billion stimulus package and said it the stimulus was “designed, in part, to get you spending again.” Despite his grand promises, that huge spending bill did not stop unemployment from rising to 10 percent.
But the media image of tax cuts was a fairy tale, a nice bedtime story for voters – one that mostly ignored
Obama’s much larger tax increases on Americans and the violation of his
campaign tax pledge..." Full text:
Obama the Tax Cutter: A Network Fairy Tale
Market to Take
'One Hell of a Hit' in Mid-December if Bush Tax Cuts Expire