TAX CUTS

TAX CUTS

How the fight over tax breaks affects your bottom line

Bush-era tax cuts enacted in 2001 and 2003 are set to expire at the end of the year, and lawmakers are battling over whether to extend any or all of them before November's congressional elections. Most Republicans want to extend all of the cuts, saying that any increase in taxes will hold back the economic recovery. Obama and Democratic leaders are proposing to extend many of the cuts but say tax breaks for top earners should expire to help pare down growing national deficits. Each plan would affect average tax rates for income groups differently.
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NOTE: The 20% income percentile groups contain an equal number of people, not tax units. The tax cuts that President Obama is proposing to extend for families earning less than $250,000 also apply to individuals earning less than $200,000.
SOURCE: Tax Policy Center, Joint Committee on Taxation, Office of Management and Budget | GRAPHIC: Wilson Andrews and Alicia Parlapiano / The Washington Post - August 18, 2010

Help Us Renew the Bush Tax Cuts!

On December 31st 2010 the Bush tax cuts will fully and completely expire — automatically giving Americans a massive tax increase. Please join former Sen. Fred Thompson and the League of American Voters in demanding that Congress renew these tax cuts and keep our economy sound.

Urgent Message From Former Sen. Fred Thompson

Dear Fellow American:

On Dec. 31, 2010, almost every working American will be hit with a massive, across-the-board tax increase on their income and investments.

On this date, the Bush tax cuts, enacted in 2001 and 2003, completely expire.

We must urge Congress and the president to renew the Bush tax cuts early, before they expire and before investors lose confidence in the U.S. economy.

Sen. Fred Thompson

The automatic tax increase that will begin on Jan. 1, 2011, and could have catastrophic consequences for the economy.

As the nation faces a terrible recession — now is not the time to raise taxes!

Help me and the League of American Voters get Congress and the president to renew the Bush tax cuts.

You can do so by taking three simple steps:

First, please digitally sign and submit the Petition to Renew the Bush Tax Cuts below.
Second, share this petition via e-mails, Twitter, Facebook, and anyway else you can

Lastly — help support the League financially so that it can share this important message with America via TV commercials.

The petition below will take just a few moments. It could help our country.

Yours for America,

SIGN THE PETITION HERE