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To be or not to be taxed ?

To be or not to be taxed ?. Luz Stella Alexis Mason Alex Beecham Victoria Sanchez. Reasons why the tax cuts should be extended. 1.       The wealthy need to help stimulate the economy 2.       They earn their money and work hard for it

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To be or not to be taxed ?

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  1. To be or not to be taxed? Luz Stella Alexis Mason Alex Beecham Victoria Sanchez

  2. Reasons why the tax cuts should be extended • 1.       The wealthy need to help stimulate the economy • 2.       They earn their money and work hard for it • 3.       If big businesses have higher taxes to pay then they cant pay their employees as well

  3. For the median family with two children, earning $67,000 per year, the Bush Tax Cuts meant a tax cut of $1,133 each year, erasing 22% of their current tax liability. A family earning $40,000 saw 96% of their tax liability erased, while a family earning $200,000 saw just 9% of their tax liability erased compared to the prior rate under Bill Clinton.

  4. NEGATIVES about Obama’s plan • We would over tax the government and you don't want to depend on the government for everything.  • Taking money away from private hands would make economic recovery more difficult. • In taxing the higher income percentage of the population more, the wealthy will cut back on expenses, which could freeze spending and worsen the economy.

  5. Bibliography • http://theboard.blogs.nytimes.com/2008/02/12/about-those-bush-tax-cuts-for-the-rich/ • http://boss.blogs.nytimes.com/2010/09/17/how-much-will-you-owe-tax-plans-compared/?scp=3&sq=Obama%20tax%20cuts&st=cse • http://www.ocregister.com/articles/tax-266687-cuts-extending.html • http://cboblog.cbo.gov/?p=1427 • http://redstaterusa.blogspot.com/2009_02_01_archive.html

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