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July 6th, 2010
06:00 PM ET

Huge tax increase coming in January: What should Congress do?

ALT TEXT

(PHOTO CREDIT: THINKSTOCK)

FROM CNN's Jack Cafferty:

In 2008, President Obama said no family making less than $250,000 a year will see any form of tax increase.

Well, unless something is done in the next six months, that won't be true.

What Americans for Tax Reform calls "The largest tax hikes in the history of America" will go into effect in January of next year when the Bush tax cuts are set to start expiring.

Here's a sample of what's in store for all of us:

Personal income tax rates are set to raise across the board with the highest rate going from 35 percent to 39.5 percent and the lowest rate going from 10 percent to 15 percent.

All the rates in between will rise as well. Itemized deductions and personal exemptions will again phase out. The marriage penalty returns on the first dollar of income. The child tax credit will be cut in half from one thousand to five hundred dollars per child. The death tax returns with a top rate of 55 percent on estates over one million dollars. Capital gains taxes will rise from 15 percent to 20 percent and taxes on dividends will go from 15 percent to a maximum 39.6 percent.

There are over 20 new or higher taxes in the new health care law and several go into effect on January 1 of next year. The alternative minimum tax will ensnare 28 million families, up from four million families this year, and taxes are set to go up on all types of businesses.

Congress of course knows all this... but they're on vacation and haven't said what they plan to do if anything.

Here’s my question to you: A huge tax increase is coming next January. What should Congress do?

Tune in to the Situation Room at 6pm to see if Jack reads your answer on air.

And, we love to know where you’re writing from, so please include your city and state with your comment.


Filed under: Congress • Congressional Spending • Taxes
soundoff (175 Responses)
  1. Dee in Woodstock GA

    The ONLY source of income the government, any government, has is taxes.

    If we all want the things that go vernment provides we all need to be ready to pay the price! What we really need is a fair tax, that takes more from those who have more and takes less from those with little.

    In my dreams!

    July 6, 2010 at 4:38 pm |
  2. Julie

    Congress should keep Obama's pledge on no increse for under $250000 and enact a small reduction for middle anf low income workers.

    July 6, 2010 at 4:38 pm |
  3. fred, montello, nevada

    They won't do anything. Then they'll take the extra revenue and rather than use it to reduce the deficit, they'll start a whole new round of spending, increasing the deficit even more. But of course, the economy will by that time have ground to a halt as anyone who is lucky enough to still be working won't have anything left to spend.

    July 6, 2010 at 4:38 pm |
  4. Richard Fairview, Texas

    You would think that a responsible congress would have already made clear their intentions for the January Bush tax cut deadline. Taxation is not a desirable topic near election time Jack so I don't think you will hear much about it until after the election. I suspect they will incorporate some crafty legislation to tax the wealthy more and a war tax to gather funds needed for their projects. If not there is always China and Japan to borrow from. You will not hear one iota out of them about being fiscally responsible. That ship has sailed and sunk a long time ago.

    July 6, 2010 at 4:38 pm |
  5. Gordon NJ

    Since you've used the phrase "Death Tax" I have to assume you've picked up this tea-bagger hysteria from Republican talking points. If Bush's tax cuts expire, we go back to the tax policies of the Clinton administration ... the most prosperous and fiscally responsible era in the past quarter century. That sounds good to me.

    July 6, 2010 at 4:42 pm |
  6. Tom, Santa Barbara CA

    Asking Americans for Tax Reform about future tax policy is kind of like asking birthers where Obama was born.

    July 6, 2010 at 4:46 pm |
  7. Mr D

    Maybe it's time to let some of the tax cuts expire in the interest of getting our financial house in order. It would be very tricky since the economy cannot standing anymore reduction in consumer spending, and job creation could suffer. Is the political will there in Washington to increase taxes? This will be fun to watch.

    July 6, 2010 at 4:48 pm |
  8. Richard Fairview, Texas

    What congress should do is turn off the money tap to Afghanistan and Iraq and bring our troops home now. They need to extend the Bush tax cuts for another 10 years because if they don't then the middle class and the poor are going to be hurt much more then the wealthy. Congress needs to do everything it can to promote job growth and if that takes giving tax breaks to small businesses for hiring more workers then so be it. The more people we have working the more taxes that will be paid.

    July 6, 2010 at 4:48 pm |
  9. Tom Mytoocents Fort Lauderdale, Florida

    Jack
    I'm all for reversing anything George the Shoe Guy implemented. If I could get back to 1999 I'd be a happy camper. The stock market is already in 1999..................

    July 6, 2010 at 4:52 pm |
  10. ken, nj

    Congress should raise the top tax rate from 35% to 90%. The top tax rate was 90% during the roosevelt, truman and eisenhower administrations, so there is no reason why it can be done again. Considering we now have 2 endless wars, a bloated defense budget, medicare and medicaid, a salaried military with full benefits, and a 60 trillion dollar debt with social security and medicare IOU's it is time to put the top rate back up to 90%. Anything less than that is totally irresponsible.

    July 6, 2010 at 4:55 pm |
  11. Mike in St. Paul

    If these were Bush's tax cuts, will this really be the biggest tax increase in history? Won't we just be going back to the way it was ten years ago or so?

    July 6, 2010 at 4:57 pm |
  12. page

    I well know what they will do...what demo's always do tax tax tax and spend more then they can tax...oh yes, let blame Bush as his tax credits will stop in six months...

    July 6, 2010 at 5:03 pm |
  13. Ed from California

    Nothing! let it expire! Our government is broke, they need taxes to make it run. More and more of our citizens (legal and illegal) are in need of government support,i.e: unemployment insurance, welfare, food stamps, Medi-Cal, and all government workers. Without an increase in taxes, these people will be in pretty bad shape. It's been predicted that 10% of our nation will support the other 90%. At the rate were going it'll be sooner rather than later(Our biggest importer, communist China).
    But of course our royalty will never let that happen and will save the day at the eleventh hour! Maybe with one caveat, the middle class will see a little increase in taxes. After all, some of us can still afford cable!

    July 6, 2010 at 5:05 pm |
  14. Ron (West Bend, WI)

    Congress should stay on recess and never come back.

    July 6, 2010 at 5:09 pm |
  15. Chris, Bronx, NY

    Hre's the issue.....Bush's tax cuts have and continue to create, a 3 trillion dollar deficit........Keep some cuts and get rid of others.

    July 6, 2010 at 5:14 pm |
  16. Rob in NC

    I am sure they will let some of these increases occur. They will NOT however use any of this money to pay off the debt, instead they will spend it all on everything else. I am sure there must be some rich people left to bail out. Rob in NC

    July 6, 2010 at 5:17 pm |
  17. George

    I believe there has to be some moderate increases on incomes from 100K to 250K to help with the deficit. Note I said moderate. Tax increases on big business that have consistently used loop holes to pay little if any taxes need to be closed particularly those who have moved large parts of their business overseas to escape taxes in the US...Small business should be left alone or given more incentives to expand their payrolls ..

    July 6, 2010 at 5:19 pm |
  18. RuthieB

    Although Bush and his administrations certainly made mistakes, many of the economic problems blamed on Bush simply weren't his fault. The engine that drove the failure was named Fannie Mae and Freddie Mac. With all the blather coming out of the administration about "fixin'" what is wrong with the economy, Fannie and Freddie remain sacred cows. Unfortunately, the Republicans will take office about the time Fannie and Freddie drag the country down again, and conservatives will once again be blamed.

    July 6, 2010 at 5:20 pm |
  19. jim

    Maybe someone should have given some thought to the cost of two wars 8 years ago and we wouldn't be looking at tax increases by Obama..

    July 6, 2010 at 5:20 pm |
  20. Scott Stodden

    I would say they should get there butts back to Washington after vacation and come up with a bill to stop these horriffic tax increases from happening otherwise our nation may just go into a panic like Greece did!

    Scott Stodden (Freeport,Illinois)

    July 6, 2010 at 5:21 pm |
  21. Herb - Tampa, FL

    Congress should let some tax cuts expire and keep some in place. The tax cuts were not supposed to last forever, which is why they were set to expire after 10 years. I trust Obama not to violate his pledge concerning those that earn less than $250.000. If you're so worried about our economic situation, Jack, why weren't you bothered by the National Debt piled on us by the last 20 years of GOP administrations, that gave tax breaks to our richest people and corporate welfare to our largest corporations, creating the mess we're in?

    July 6, 2010 at 5:22 pm |
  22. Rob

    Let's face it Jack to get out of this mess we need to come to the reality, taxs will need to be raised and spending needs to be cut. Let's face it the last eight years have been tax cuts with that were not paid for two wars that were not paid for a huge Medicare program not paid for with less government income you do the math a figure out he disaster waiting to happen. We are victims of stupidity

    July 6, 2010 at 5:22 pm |
  23. Vincent Pascale

    Increased taxes will do nothing to bring the economy back. We cannot punish prosperity by taking even more from those who succeed. We've spent billions fighting the war on poverty, and we have lost. When will we learn that government spending accomplishes precious little but expanding the national debt?

    July 6, 2010 at 5:22 pm |
  24. Robert Phillips

    Nothing; Obama and US needs the money he has already spent. Obama is change we can now believe in as we see his agenda unfold. Take from the producers and give to the consumers. Think we can take from the Chinese too?

    July 6, 2010 at 5:28 pm |
  25. Bill

    Congress needs to act. This will be a near fatal blow to the recovery.

    July 6, 2010 at 5:28 pm |
  26. Alex in Gig Harbor, WA

    Let the Bush tax cuts expire. They have cost us more than both wars combined! A top tax rate of 39.5% is still much lower than under Saint Reagan!

    July 6, 2010 at 5:30 pm |
  27. Antonio from Washington D.C.

    Obama had a dream that no family making less than a quarter of million dollars a year will see any form of tax increase. Make it so!

    July 6, 2010 at 5:31 pm |
  28. Jim Blevins

    Just like it was a trivial tax cut for most people, this would be a trivial tax increase for most people. Barring Republican filibuster, you can be sure that Obama will stick to his pledge. Only people who make more money than they know what to do with will see an increase.

    Jim, Craig, CO

    July 6, 2010 at 5:32 pm |
  29. Mike S., New Orleans

    Congress should stand and applaud as the Bush tax cuts that destroyed our economy disappear into the ashbin of Trickle Down Economics history.

    July 6, 2010 at 5:33 pm |
  30. Michael Shea

    We need a huge tax increase to bail us out of the current economic slump. Most of the tax increases should be on the backs of the super wealthy. All tax loopholes should be removed from this class of people.

    CEO's should take drastic pay cuts with no bunuses.

    It's time to nail the megacorporations with their taxes. Small businesses of twenty-five or less should have their taxes cut. Allowing all fifty to grow marajuana legally would increase the revenue stream by quite a bit.

    Modifying our trade agreements to allow us to get our manufacturing base back would create meaningful jobs and expand the revenue stream.

    Cutting our military troop strength around the world especially in the Middle-East and Korea would help dramatically.

    We should bring back FDR's WPA and CCC to put our men and women back to work to repair our infrastructure.

    Most importantly, redesign our energy sources so that all of them are produced in our own country.

    July 6, 2010 at 5:35 pm |
  31. John in Ohio

    Raising taxes on an already strained and weak economy is the absolute worst case scenario. Business owners will have less money to put back into their businesses and will either stop hiring or even have to cut jobs. This all leads to fewer revenues for the feds via a smaller tax base and more unemployeed workers to try and support via unemployeement. The ONLY course of action that will truely stimulate the economy is a tax cut and not a tax hike.

    July 6, 2010 at 5:35 pm |
  32. Melissa

    How exactly did you think all this was going to be paid for, huh? And President Obama kept his promise so don't you go saying he didn't. He said they wouldn't increase for 2010. He didn't say anything about 2011. Stop complaining about taxes. They are whats kept this country from going under.

    July 6, 2010 at 5:36 pm |
  33. MIke in TX

    In an election year Jack . Congress rarely asks us what they should do. Everyone up there is yelling about reducing the debt just don't do it in their back yard. It is said that 70% of our debt is already committed and out of reach of Congress. We know in an election year defense, entitlements, interest on debt, foreign aid and much more will not be touched.

    That leaves the debt and improvements up to us but like our folks in DC we say not in our back yards either. It doesn't matter which party they are in up there they can't win on this issue so regardless of what they should do, which would be to cut spending and raise some taxes, they probably will extend the tax cuts for a few more years so someone else can deal with the issue.

    July 6, 2010 at 5:37 pm |
  34. Jon Hart, Toronto

    Does America live in a dream world? you talk about a fantasy land of socialism and communism take overs, meanwhile the middle class is squeezed even more by billionaires who really run your country. Wake up and stop drinking the cool aid.

    July 6, 2010 at 5:38 pm |
  35. Anthony - Mustang, OK

    Jack,

    I'm not sure what Congress is going to do, but I'm sure it involved blaming George Bush and the government spending everyone's hard earned money, all while seeing no returns on it.

    July 6, 2010 at 5:38 pm |
  36. Linda in Arizona

    Impeach Obama?

    July 6, 2010 at 5:38 pm |
  37. jon in Georgia

    tax the big corporations that behave like criminals. i would be willing to bet if every corporation were to be placed under the scrutiny that BP is under right now you would be hard pressed to find many operating to the letter of the US law, Tax the rich that don't pay taxes at all because the law allows them to get out of it. Tax anyone you want except for the poor and unemployed that were put in their position by the corporations and the fat greedy rich. How much money is enough,

    July 6, 2010 at 5:39 pm |
  38. Tara McKinney, Texas

    Jack there is not much congress can do. They have 3 options. One is to let the tax cuts expire which will raise taxes. The next is to modify the tax cuts in some form. The last is to extend the tax cuts. No mater what they do they can not change what they have spent. The deficit will remain high and unless they get their spending under control tomorrow and keep it under control and end these two wars that we can not afford then a real depression is right around the corner. There is no amount of stimulus that is going to save us. Our payments in debts that we owe is greater the 60 percent of our gross domestic product and climbing.

    July 6, 2010 at 5:39 pm |
  39. katiec Pekin, IL

    The tax cuts for the rich, Wall St, businesses that send our jobs overseas most certainly should be eliminated.
    Two wars were created, yet no funds to support these wars. The medicare prescription plan was started, again, unfunded. The republicans scream no tax increases yet they created diasters that almost destroyed our country with their uncontrolled spending and there is no way out except for fair tax increases. I believe the American people care enough about our survival to accept limited taxes, but will not allow further benefits for those who have been allowed to continue their gravy train existence.

    July 6, 2010 at 5:42 pm |
  40. Smith in Oregon

    Congress should immediately move with courage to entirely remove the enormous Tax Breaks that Bush-Cheney enacted to favor the ultra-rich in America and has now been determined to be a piggy bank buster, projected costs to American taxpayers over 20 years is 13 Trillion dollars!

    July 6, 2010 at 5:43 pm |
  41. DEBORAH BALLWEG

    All Democrats will vote to have them expire. They are so greedy that curtailing spending will NEVER occur to them. They want their hands in our pockets forever.

    July 6, 2010 at 5:46 pm |
  42. anthony from new jersey

    What excites me most is that Bush's tax cuts for the rich will expire. I may have to contribute more but at least I'll see the most endowed of this country will finally pay more. This is a shared obligation and those who bask in the bright light of the American Dream will have to kick in to keep this country financially viable.
    So I'm sorry that the rich may have to give up a few toys but I'm just trying to rob Paul to pay Peter.

    July 6, 2010 at 5:48 pm |
  43. Doug - Dallas

    Let it happen, it's the only way we'll ever start to reduce the deficit. The Party of No will figure out a way to keep that from happening since it's all of their rich friends that will be howling the loudest.

    July 6, 2010 at 5:48 pm |
  44. Richard Green

    Jack,
    The huge tax breaks Bush gave to the rich and the piddly cuts he gave to everyone else are going to expire. It was planned by Bush. Obama should see to it that tax breaks for those families making under 250K stay in place and see that the rest of the taxes return to their old levels at a minimum....including the inheritance tax. To say that an inheritance is not income to the one receiving it is like saying that the mechanic you just paid $2000 to fix your car shouldn't have to pay taxes on that $2K because you already paid tax on it when you earned it.

    Richard
    San Clemente, Ca.

    July 6, 2010 at 5:52 pm |
  45. John from San Antonio

    As far as tax cuts go what congress does is irrelevent economically. For 2009 47% of the people paid no taxes. That leaves 53% paying taxes and that is very misleading since more than half of that 53%'s income is from taxes, which means they are only returning a small portion of what they received. So in the overall picture income taxes mean nothing except for how much the rich will be helped.

    July 6, 2010 at 6:01 pm |
  46. Mary Steele Yorktown VA

    The Democratic majority should pack their bags and go home for good! This is not the only backstabbing thing they have done or failed to prevent. We have massive unemployment because they flat out refuse to strongly enforce immigration laws that would weed out 7 million working illegals so our unemployed can take those jobs!!!

    Mary
    Yorktown VA

    July 6, 2010 at 6:01 pm |
  47. Marc from San Diego

    Absolutely nothin Jack. We haven't had a balanced budget in a decade, nor have we figured out how to pay for two wars. Unless our politicians can figure out how to reduce our debt without raising taxes, which neither the Bush or Obama administration has been able to do, then these tax cuts need to expire.

    July 6, 2010 at 6:02 pm |
  48. Jamie

    Jack –

    The higher tax funds healthcare benefits and increased spending on education and infrastructure. That's a great deal for lower income households. The public needs to pay more attention to government spending than to their tax bills.

    Jamie
    Phl, PA

    July 6, 2010 at 6:04 pm |
  49. Jeff from Milwaukee, WI

    Nothing needs be done. Except maybe raise the highest marginal tax rates even higher: it used to be 90% – the wealthy should stop bellyaching – they have had an extrodinarily cheap half century.

    It always annoys me when local governments raise revenue via traffic tickets and such. They should just be honest about it: if they need more money to run the government, they should just raise taxes. Homeowners complain that the schools are bad, but then vote down bond referendum needed to pay for improvements.

    When higher taxes pay for needed programs, that is good and I am happy to contribute my fair share.

    July 6, 2010 at 6:05 pm |
  50. Tom in Las Vegas

    Let them occur. We have a huge deficit and we need to start doing something about it, and that means everyone. Don't give me any of this BS about taxes hurting jobs. What really hurt jobs, and has continued to hurt jobs, are the tax breaks we give to companies that outsource jobs to other countries. Kill those tax breaks, and increase tariffs on imports, as well and let's get our work force back to work.

    July 6, 2010 at 6:07 pm |
  51. Joseph Leff

    The answer is obvious, Jack. Make the tax code more complex. This will create many more jobs in the tax-preparation business, which in turn will stimulate the economy.

    Joe in Delray Beach, FL

    July 6, 2010 at 6:09 pm |
  52. Annie, Atlanta

    Cutting taxes while waging two wars was stupid. Cutting taxes as part of a stimulus bill to appease the temper tantrum party was stupid. In the county where I live, our home values lost 25% and our taxes increased over 30%. We eventually have to pay for stupid, and that time has come.

    July 6, 2010 at 6:10 pm |
  53. JM

    In a "recovery" this fragile, a tax hike can only be destructive. Tax cuts should be renewed. Unemployment benefits should be renewed, but overall government spending should be cut. We can no longer afford a government this large and intrusive. Stop printing money like there is no tomorrow, or we WILL wake up without a tomorrow!

    July 6, 2010 at 6:11 pm |
  54. concernedvoter

    Congress should take a pay cut and transfer the funds for the Iraq war to offset the debt

    July 6, 2010 at 6:15 pm |
  55. Finny in South Bend

    They should do what all liberals to – raise taxes even further. That's gotta help the economy, right?

    July 6, 2010 at 6:15 pm |
  56. Malchiram Abraham

    Malchiram, Brooklyn, New York

    Congress should give the middle class a break. Get raid of the marriage penalty.

    July 6, 2010 at 6:15 pm |
  57. Mel

    Obama will pay for this, we will not forget this Obama. No tax increases, we already have to pay for a corrupt government who does not do what the people want. Time for a revolution, Jack

    July 6, 2010 at 6:15 pm |
  58. Joe

    Jack, how else do you suggest we balance our budget. Tell me and I'll vote for you if you choose to run for the office.

    July 6, 2010 at 6:16 pm |
  59. Hector Rivera

    Most of these tax breaks do nothing for me. My question is this. Why do 47% of US households end up paying no federal income tax. Why should half the population support the other halves use of federal services? I think everyone should pay some federal income tax.

    July 6, 2010 at 6:16 pm |
  60. Ralph

    I think our nation can't afford to renew all these tax cuts. Look at the hole they have put us in already! Congress should let them expire, and write a separate bill protecting families earning under $250k/year.

    July 6, 2010 at 6:16 pm |
  61. Gary Guy

    What should congress do? Hopefully retire.

    July 6, 2010 at 6:16 pm |
  62. Janet M.

    Let all the taxes take effect and then the Obama supporters can see what the voted for-socialism.

    July 6, 2010 at 6:16 pm |
  63. Shane

    Give the American people a stimulus package..

    July 6, 2010 at 6:17 pm |
  64. Clarence Maloney

    The proposed tax increases should take effect. People who earn through stocks and other investment should pay the same as people who earn through paychecks. Furhter, there must be an energy tax (not cap-and-trade which is subject to huge mis-use) Gasoline cost should rise to $10 a gallon as in many "developed" countries, and its proceeds invested in clean energy and a dense railway network. We MUST tackle the national debt, and Obama needs to BOLDLY challenge the American people.
    Clarence Maloney
    Rockville MD

    July 6, 2010 at 6:17 pm |
  65. AL in Plano, TX

    Jack, This is only the beginning of the Obama agenda. I wonder how long, if ever, before the Obama supporters wake up to the reality they have brought on America. I am so sad for our America. Hurry November.

    July 6, 2010 at 6:17 pm |
  66. Jeremy from Traverse City, Michigan

    Congress 'should' take in the new revenue and start paying off our massive national debt. They more than likely wont. They'll find more things to spend our money on. Regular American's have to be responsible with our budgets – our leaders should as well. I know who I'm voting for next time, do you Jack?

    July 6, 2010 at 6:18 pm |
  67. Bill

    Congress shouldn't do anything. The American people should pay their taxes and be happy they live in a country as great as the United States. Everyone complains when their government doesn't have enough money to provide them the services and prompt response to disasters they demand, yet all anyone does is whine when their taxes go up. You can't have it both ways, grow up.

    July 6, 2010 at 6:18 pm |
  68. Ben

    We must abolish the Federal Reserve system. We can create our own debt free currency, and we don't need to rely on international bankers to do so. The new documentary, "The Secret of Oz" explains this in clear detail.

    July 6, 2010 at 6:18 pm |
  69. Paul F. Caron

    Jack: When Congress comes back from vacation, they should give us one by immediately forming a circular firing squad. Then we should let their jobs be filled by volunteers chosen from America's retired people.

    July 6, 2010 at 6:18 pm |
  70. JoeJoe

    Joe M from Grand Forks ND
    Let them phase back in. We can't continue running huge deficits and huge tax breaks. Remember, "Taxes are the price we pay for a civilized society. (Oliver Wendell Holmes)"

    July 6, 2010 at 6:18 pm |
  71. Heyward

    Please stop with the complaining about an increase of taxes, we still pay the least taxes in the world and get more back in services than we pay individually It's costly to be the best country in the world. Stop wanting something for nothing.

    July 6, 2010 at 6:18 pm |
  72. Dave

    As Voltaire wisely stated, "An ideal form of government is democracy tempered with assassination." Maybe your question should be "What should the American people do?"

    July 6, 2010 at 6:18 pm |
  73. dan robinson, columbia, sc

    jack, Congress should lay back and allow taxes to go back to pre-Bush levels. How in the world can we possibly pay for all the problems we demand the government to address without a tax increase? Paris Hilton can afford to pay a little more in taxes so she can enjoy buying friends in a free market society!!

    July 6, 2010 at 6:18 pm |
  74. andyz

    No one wants to raise taxes. Jack, how many times can a person overdraw their account before the bank closes the account? How much can congress spend before the entire economy of the western democracies collapses? How much pork can our elected legislators hide in laws passed?The idiots that we elect to the congress have no interest in the needs of the country but only in ensuriing their own re-election. Congress needs a massive dose of reality. Balance the budget, pay off the national debt, and create a budget surplus must be at the top of the list. Marx was wrong. We no longer have the capability to manufacture the rope that will be used on the last capitalist.

    July 6, 2010 at 6:18 pm |
  75. brian tourville

    American Corporations who moved Jobs Overseas
    should have full Sales Taxes levied on all Overseas Sales
    and those funds Repatriated back to The United States.

    Not One Cent is Ever sent back to cover the Massive Job Losses
    and Loss of Revenue to Washington and the States.

    The changing of the Laws to permit this by R.Reagan & B. Clinton
    still has a name:

    It's Called Treason.

    July 6, 2010 at 6:18 pm |
  76. PATRICK HARRISON

    Get ready to hire more prison guards to put US all in when we can no longer pay our taxes. That will solve the unemployment problem.

    July 6, 2010 at 6:18 pm |
  77. Allan Goud Jr.

    Jack, the deficit is a huge problem, as anyone will tell you. At the same time, nobody wants their ox gored, and special interests are in full throttle. If Americans want all their government services, they have to pay for them. The alternative is not pleasant. So Congress should tax those who can afford it, and who frankly have benefitted the most from Bush's tax policies, and find some way to relieve the burdens of those who can least afford it. Raise the top rates to 39% – or more – and leave the bottom rates alone.

    July 6, 2010 at 6:18 pm |
  78. sassyauburn

    I voted for Obama and had a sense of hope when he was elected. Now again, I hear about how my middle class family will be forced to pay more and more just to get less and less. To hell with congress and what it should do (they never do what I want anyway)... what am I going to do???? ~ Tammy in NY

    July 6, 2010 at 6:18 pm |
  79. Ed Wenger

    Congress should do nothing. Those tax rate decreases should never have happened in the first place. Like John McCain said when he voted against those 2001 tax cuts; they will drive us to deficit spending and shift a large amount of wealth to the poor.

    And by the way, Obama is not raising taxes. Doing nothing is not raising taxes. Bush is raising taxes by making those tax rate cuts temporary in the first place. If they were so crucial to 'create jobs', then why make them temporary.

    July 6, 2010 at 6:18 pm |
  80. Troy Newport

    Once our government shows us they are operating with utmost efficiency and restraint then I'm willing to explore tax increases. Until then they need to find ways to stop whizzing our money into the wind.

    July 6, 2010 at 6:19 pm |
  81. Sean B

    They should let it happen and decrease spending while they're at it. With our national debt at $13 trillion, we have to take drastic action. Paying extra taxes may hurt a lot of people, but the consequences of not combating the debt could be far worse.

    July 6, 2010 at 6:19 pm |
  82. Janos

    I don't like taxes any more than the next guy but they're necessary for any first world nation, taxes pave roads, build schools, train teachers, and fund our military. If you want lower taxes something has to be cut, the Military is already under funded for the equipment our men and women in harms way need, our schools are already under funded to the point that many are falling into disrepair and we are being out competed in science education, our roads and bridges are already in such disrepair that there are chunks of cement in some of our ditches and falling off of a few of our bridges. It sucks, it really does, but these taxes are necessary, for us and for our troops.

    July 6, 2010 at 6:19 pm |
  83. Annette

    Now Jack, I like you, but the devil is in the details and you and I know that those tax cuts did hot really help us middle class and small businesses the way it did the wealth. Small businesses will still get tax cuts in another benefit. Jack, this probably will not be put on air or post, but let's keep it real.

    July 6, 2010 at 6:19 pm |
  84. Fateen

    As a democrat that is a new law school graduate with a mountain of student loans, I see the need and value in keeping as much money in taxpayers' hands. Government doesn't buy clothes (unless I get welfare), government doesn't pay for my healthcare (unless I quit), government doesn't pay for my car (they just own the company)...I need my $$ to help stimulate the economy. Pres. Obama and congress, Bush's tax cuts may not have made sense when he made them, but I'll be making cents if you let then expires. Hear our cries – let us keep our money!

    July 6, 2010 at 6:19 pm |
  85. Cris

    WHO will be affected by these tax increases Jack? That is the part you are leaving out! Are these not the Bush tax cuts for the rich that are finally expiring? Most of us are far from rich. I hope Congress does nothing but applaud, that's what I'll be doing!

    July 6, 2010 at 6:19 pm |
  86. John Fincham

    Congress will do what it always does,point fingers and do nothing
    to help the people that hired them .

    July 6, 2010 at 6:19 pm |
  87. Riley

    Reduce the wages of our men and women on capital hill to a level more representative of the average working American, whom they are supposed to represent (I would say the average American, but given the unemployment numbers that would eschew the data). Maybe then they will have the incentives in place to enact changes that will be affecting the rest of working Americans.

    July 6, 2010 at 6:19 pm |
  88. Julie

    Historically, lowering taxes in times of recession is the right thing to do. Reining in government spending & growth & focusing on job creation in addition will go a long way to improve our tomorrow.

    Julie
    Nokomis, FL

    July 6, 2010 at 6:19 pm |
  89. Dan Wright

    This, of course, is a sunset law which from its inception had an expiration date. The only negative here is the alternative minimum tax, which was intended to apply only to millionaires but now snares some of the upper-middle class. That can be fixed separately by Congress. As for the rest of the taxes due to expire, the free lunch the Bushies gave us should and will expire. Not a bad deal for the balance sheet, either.

    July 6, 2010 at 6:19 pm |
  90. James Bowen

    It's not a TAX INCREASE. It's merely Bush's dumb tax cuts expiring. Those cuts were the largest angle contributor to the national debt. You want the debt to go down then let the cuts expire.

    July 6, 2010 at 6:19 pm |
  91. Tim

    Obama has no coat tails, and increasingly, he's more of an albatross. If congress is smart they'll do the right thing for the economy and not raise taxes/make the current rates permanent.
    You are correct to also identify the many, non-income based, tax increases that have already been implemented. Thanks Jack

    July 6, 2010 at 6:19 pm |
  92. S Anson

    First we should eliminate half of congress–they don't do anything anyway. Second, they should lower their salaries AND their pensions. Afterall, we are being hit very hard with all these tax increases because of their irresponsible behavior in Congress–they should have to suffer just as much as we. Why aren't people more outraged?

    July 6, 2010 at 6:19 pm |
  93. Mel

    This will be political suicide Jack for all politicians. We need to start over in Washington anyways....There is a big storm coming your way Washington...gonna wash all the garbage out to sea..

    July 6, 2010 at 6:19 pm |
  94. Billy

    Cutting taxes for the vast lower class and increasing taxes for the minority upper class should balance things out.

    Billy
    San Diego, CA

    July 6, 2010 at 6:20 pm |
  95. docb

    Jack,

    Many of these bush tax hikes are set to expire–like the breaks you and IWolf take advantage of. Many of them need to be restructure by congress but is there the will! Lets see what happens in November–If we still have a Dem majority it might get done –if we have a repub congress all the breaks will go back to the coproations and the wealthy.
    Just like the waging of WAR ON THE UNEMPLOYED BY THE GOP!
    It will hit those who can sustain it the least! The republican way!

    This time though –with less revenue - unemployed and jobs shipped out of country–the repubs will have less to spend-IF THEY GAIN POWER!

    Same same –americans consistently vote against their best interest!

    July 6, 2010 at 6:20 pm |
  96. Arthur from Sarasota, FL

    The Bush tax cuts are why we are in this debt crisis...the cumulative national debt was $3 trillion when Bush took office and it was $11 trillion when he finally left......
    Who benefited from the tax cuts?....not the average Joe.

    AB

    July 6, 2010 at 6:20 pm |
  97. Kirkland

    Congress must decide what they are going to work on, either economic recovery or balancing the deficit. They can't have it both ways. If they are serious about an economic recovery, then don't let the tax cuts expire. If they are serious about balancing the deficit, then allow the tax cuts to expire and work on balancing the deficit. It is simply unfeasible to do both. We need leadership to help prioritize the options, which is lacking in Congress.

    July 6, 2010 at 6:20 pm |
  98. Norm

    Just cut government spending in Washington, D.C. This would allow us to continue on a path of tax cuts. We need smaller government and more jobs in the private sector of the economy. Increased jobs mean increased federal revenue which could translate to further tax cuts.
    Spend money at the local level instead in the form of jobs for scientists, mathematicians, engineers, technicians and machinists. That is what built this nation and made it great not more government jobs in Washington, Georgetown, Silver Spring and so on.

    July 6, 2010 at 6:20 pm |
  99. Rodney Whittaker

    They haven't done anything these last four or so years so, why should they start now?? Its time for those who thought they were going to get pie in the sky understand there is no such thing as a free lunch.
    Oh, I forgot. Many won't be paying those new taxes. They are still unemployed and want to stay that way....Cheaper for them to let us support them you know.

    July 6, 2010 at 6:21 pm |
  100. Fallow James

    I'm not always sure what planet Americans think they live on. The people of the United States pay the lowest taxes in the entire industrialized world, and its deteriorating infrastructure and abysmal public services are the best evidence of this.

    If Americans like having a society with any semblance of a social fabric, it is time to accept the cost of having healthy, modern and well-run society.

    Unfortunately, rather than building a forward-looking, safe society that will once again provide global leadership, it seems that most people in this country aspire to live in high-security gated communities where they can consume to their heart's content without interruption from America's modern and growing head count.

    July 6, 2010 at 6:21 pm |
  101. peter

    It's not what Congress should do, it's what we the people should do.
    How about a general strike for starters? The government should be reminded that tax hikes often lead to revolutions. Already, we are heavily taxed by the states and local communities, how much more can we take?
    The more they tax us, the less we are be able to put money back into the economy. This is a suicidal move.

    July 6, 2010 at 6:21 pm |
  102. Desert_Warrior

    Impeach Obama

    July 6, 2010 at 6:21 pm |
  103. Scott Moneypenny

    I believe he said "your taxes won't go up one dime". He was right, it's truck loads of dimes. Washington is out of the office on vacation and is woefully out of touch with the tax paying American people.

    July 6, 2010 at 6:21 pm |
  104. Bill Marvell

    What should Congress do? NOTHING. That's what they are good at. Oh I forgot, these tzx increases will help to reduce the public debt. Maybe they skim off enough to stimulate their pork projects and use the threat of impending doom to intimidate voters; but to actually do something, they would have to act like adults instead of children playing with their uncle's coin collection (with snotty, fat fingers). Too bad we can't cut or eliminate their staff or salaries... How much does Congress spend on itself?

    July 6, 2010 at 6:21 pm |
  105. Allen in Hartwell GA

    What are they supposed to do? If Bush and his rubber-stamp Republican led Congress hadn't given all the tax breaks we wouldn't be having this discussion, and our national deficit and debt would be a lot less.
    I guess Congress should be prepared to accept that they (or their predecessors) should not have cut taxes under the G.W. Bush presidency – the tax breaks that contributed to doubling the national deficit.
    Allen
    Hartwell GA

    July 6, 2010 at 6:21 pm |
  106. Ben

    Congress should give up their retirement and take a pay cut.

    July 6, 2010 at 6:22 pm |
  107. Dee, New York

    We read his lips when Obama promised that no family making less than $250,000 would see any form of tax increase. If he reneges on that promise, in our home that is called being a liar.

    People are fed up, and if Congressmen value their political careers, they should work out tax credits to offset each and every tax increase which comes to families making less than $250,000.

    We wouldn't want our great country to be led by a Liar.

    July 6, 2010 at 6:22 pm |
  108. Anthony C

    Nothing! It's time to do our part and pay for all that we expect.

    July 6, 2010 at 6:22 pm |
  109. Ryan

    Congress should do nothing. The uncontrolled spending and deficits of The Bush Administration have to finally be paid for. I do not want higher taxes in general, but if this is the first step for America to finally be financially secure, it has to be done. In a few years when things are paid for, cut them again.

    July 6, 2010 at 6:22 pm |
  110. Eric Mullenmeister

    I believe that companies and individuals with substanial incomes should pay more taxes when needed and more is needed!! I am one of those individuals taht will pay additional taxes and it will not change anything I do, buy or invest in!! It is "sabre rattling" pure and simple if you believe that companies or individuals will make significant changes if they have to pay more taxesnext year! I will still buy good stocks no matter what the capital gains are!!! So shut up and pay a little more!!
    Eric M

    July 6, 2010 at 6:22 pm |
  111. Fran of Huntington, NY

    No one, including me, wants their taxes raised. However, as history has shown time and time again, it is the only way to get the economy and our deficit back on track. Cutting programs doesn't do it, only adds to the problem. Face it taxes will fix the economy and then in 2016 we'll have a Republican President who can cut all the taxes and we can start building that deficit way up again. A vicious cycle.

    July 6, 2010 at 6:22 pm |
  112. Rex in Florida

    It should be used to overhaul the inequiteis in the tax code. Its kinda crazy when people who make money by investing pays less taxes than a person who works 40 hours a week. Income is income regardless of how you make it. The passive income catagory should be eliminated.

    July 6, 2010 at 6:22 pm |
  113. Janos

    Our economy depends heavily on spending, even people on SSI contribute to our economy because they buy goods that other people make and sell. If there were fewer corporate chains like Wal-Mart and more ma and pa stores our economy would be far more vibrant, the wealth would be more distributed and the consumer would have more choice.

    July 6, 2010 at 6:22 pm |
  114. Steve D

    Nothing!!!! I can't believe I'm saying this but as I recall the rich made out much better than I did with that cut and if its a direct reversal I have no problem with that. We are in debt up to our eyeballs and the millions of people out of work won't be paying any income tax. Add to that the hundreds of thousand state and local workers that will need to be laid off next year to balance local budgets and someone has to keep the country going until this mess works its way out.

    July 6, 2010 at 6:23 pm |
  115. Joseph

    Congress should lead the celebrations. A return to the Clinton tax policies will bring back the prosperity and economic growth of the Clinton years. I can remember the Republicans predicting that the Clinton tax increases and spending policies would lead to economic disaster and "deficits as far as the eye can see". The reality was the best economy since Wrold War II and the first budget surplus since Lyndon Johnson was President.

    July 6, 2010 at 6:23 pm |
  116. Ken in NC

    Well Jack, you got to know when to hold em and know when to fold em and it's about time Congress fold em. Fold their clothes, pack up their bags and go down to the employment agency and apply for benefits. Oh Jack, they were cut by Congerss.

    July 6, 2010 at 6:23 pm |
  117. Donny

    Congress should let the tax giveaways run out. Our national debt is the biggest threat to our nation's security. Our infrastructure received a grade of D from the American Society of Civil Engineers, with an estimated 2 trillion dollar investment needed over the next 5 years. Of course there is a lot of waste in government, but almost 50% of Americans didn't pay any income tax last year. We must all realize that you cannot get something for nothing.

    July 6, 2010 at 6:23 pm |
  118. Sam

    George H.W. Bush broke his promise of no new new taxes and that cost him re-election. So on one hand I hope congress lets the Bush cuts expire to ensure Obama isn't re-elected – and then Republicans can come in and reverse the horrible direction he's pushing the country toward. On the other hand, nobody ever really wants tax increases, especially in dire enonomic times, so it's a toss up. The better solution, however, is to renew the tax cuts. The economy won't turn around with a heavier tax burden. If anything, government has to keep cutting costs. How about we stop fighting two senseless, illegal wars oversees and call our troops home? We could save thousands of lives and several billion dollars that way.

    July 6, 2010 at 6:23 pm |
  119. Isabel from Ann Arbor, Michigan

    Well, Jack that sounds like fiscal responsibility to me. I guess Congress should try to suck it up and do what's right and not what's politically expedient. You don't mention how much of these "increases" are simply letting the irresponsible Bush tax cuts expire – the very ones that got us into this financial mess in the first place. How do you expect to pay for the Bush war in Iraq, the ongoing conflict in Afghanistan ( a bi-partisan "war" as notable Republicans have assured us) and digging out of the needs for bailouts, handouts, and extreme measures to ensure that the country did not plunge into the greatest depression of all time. It's time to deal with deficit spending. Just ask yourself, "WWBD?" (what would Bill do?)

    July 6, 2010 at 6:23 pm |
  120. CJ (Washington, DC)

    In an ideal world Congress would find a way to make everyone happy. But we live in a world that is far from ideal – a world in which you, me, and Santa all together can't make everyone happy. Congress and Obama should man up and raise the taxes before the situation spins out of control. Obama should have never promised the no tax hike in the first place, but that discussion is for another day.

    July 6, 2010 at 6:23 pm |
  121. Stephon Boatwright

    The congress has to let them expire Jack! The debt in the this country must be addressed with a multi-tendency approach that has to include new taxes and the expiration of old cuts. Bush made the critical mistake of out of control spending while simultaneously implementing tax cuts and what a huge mistake that was! Furthermore, consumers aren't spending the money they receive in tax cuts anyway. Consumer confidence is way down so citizens are just sitting on their extra income. That's an unwelcome outcome for a country whose economic success is dependent on consumer spending. The money is best used elsewhere to continue economic stimulus.

    July 6, 2010 at 6:23 pm |
  122. Jack - Lancaster, Ohio

    Jack:

    Congress needs to apply a self-dispersant, clear the aisles, then clear the air. Thats how I feel, Jack.

    July 6, 2010 at 6:23 pm |
  123. Josh Young

    Let's just ask congress to vote for an extension on the Bush tax cuts and then the next day we'll just continue to whine about our huge deficits and our mounting national debt. Business as usual!

    No seriously though, I applaud the Obama administration for doing the unpopular thing whether the majority likes it or not. Proposing and passing tax cuts is a sure-fire way to make yourselves popular, but it doesn't serve our long-term interest as a country.

    Oh and don't get me started on complaining about 'big government' and how the government shouldn't have too much control, but then when a bunch of oil spills we all want to blame our government for not doing enough.

    Make up your mind America.

    July 6, 2010 at 6:23 pm |
  124. Ron (Wisconsin)

    What should Congress do? Stay on vacation!!

    July 6, 2010 at 6:23 pm |
  125. PeakHunter

    During the past two years I have been financially waterboarded!

    While my employer, a state university, froze salaries my taxes went up $40 per paycheck, cost of benefits went up, my property value has dropped but not property taxes state fees such as vehicle registrations doubbled, and following late payments and overdraft fees to banks, three of my credit cards went to 30% interest and then defaulted.

    What should congress do... stay out of my wallet.

    July 6, 2010 at 6:23 pm |
  126. John from Scottsdale, Arizona

    Congress should have the guts to pass strong, specific, unbiased, all inclusive austerity measures. For instance all government retirees should fund their own retirements in an IRA or 401K like the rest of us have to do. You then retire till the money in the account runs out, then on to plan B. No open ended retirements that the taxpayer pays for. It'll never happen.

    July 6, 2010 at 6:24 pm |
  127. Rick

    We are broke. Let the tax cuts expire. Why should wage earners be taxed a rates higher than capital gains? Captial gains disproportionately serve the interests of the wealthiest. Why show your bias on the inhertance tax by calling it a "death tax"? It effects less than 3% of American families.

    We need to balance the budget, we have been promised a free lunch for 30 years by "borrow and spend" Republicans. We need to pay for the government services that we all want. We may not like everything that we spend tax dollars on but we also don't want our pet services cut. It seems our nature to only cut the services for the "other guy."

    July 6, 2010 at 6:24 pm |
  128. Ben

    ben, osburn, idaho Congress should give up their retirement and take a pay cut.

    July 6, 2010 at 6:24 pm |
  129. Leonard

    Congress should get to work, tackle the tax laws to make them understandable and fair. We should all be paying our fair share to move this great nation into the 21st century, time to pay as we go. The problem is that our congress has a ring through its nose being led around by special interests, corporations and the wealthy. No will to do anything other than what they have been doing "NOTHING!" So the "LITTLE PEOPLE" will continue to get the short end of the stick and will continue to pay the price of a disfunctional Congress and Senate. So what they should do and what they will do are two different things.

    July 6, 2010 at 6:25 pm |
  130. Margot

    Congress should do nothing-Americans want good roads, Medicare, help in natural disasters, a strong military.........and don't want to pay for it. This disconnect from reality is shameful and not worthy of what this country used to stand for. The money pot is empty and we need to act like grown-up responsible citizens, bite the bullet and start paying for things. We elect politicians who tell us what we want to hear "No new taxes" is the anthem........But, sadly, the party is over and it is time to put this country back on track...and start paying for these things. Will it happen? Doubtful–we keep electing people who cater to our idiocy.......Margot in Washington

    July 6, 2010 at 6:25 pm |
  131. Nancy, Tennessee

    Congress should belly up to the bar and order a tall one. Washington is having a heat wave and that will not come close to the rise in temperatures if the Democrats try to pass a bill that doesn't raise lower and middle income people's taxes and increases taxes for those who make over $250,000. The November elections have everyone in Washington running away from campaign promises that President Obama made.

    July 6, 2010 at 6:25 pm |
  132. Moe, Cheraw,S.C.

    Jack, you should receive a medal for the comments on the Obama tax increase. I enjoy your candor. The news makers tend not to keep score on the President's promises. They make them and they don't keep them. The average person is seeing tax increases in every direction (local, state & Fed.) This must stop and congress must not let the tax cuts expire. It's is simple, people need money to spend to keep the economy going. If all they pay is taxes the economy and this country as we have know it will collapse.....

    P.S. This is my first comments to you. Keep up the good work.

    July 6, 2010 at 6:25 pm |
  133. Jordan

    Nothing, Jack, nothing. Nothing is what they will do because let's be hones that's what congress does. Nothing. For once though they may be right in their apathy. The long we continue to live on an artificial high in this country the worse we'll be when it's time to come down. The answer here is overcompensation. Cut spending, raise taxes, and quit crying.
    We made this bed, and now we have to lay in it.

    July 6, 2010 at 6:25 pm |
  134. Andrew Kennedy

    They should do nothing. It's about time Americans start paying taxes again. Too long have we wanted something for nothing. We expect to have a large military, decent infastructure, etc. but we never want to pay for it. Since the 80s politicians have been cutting taxes and increasing spending. It simply defies logic. And we wonder why we have budget deficits every year. Finally our lawmakers are taking responsibility and making an honest attempt to balance the budget and they are being attacked. Americans should be ashamed of themselves for being so fiscally ignorant.

    July 6, 2010 at 6:25 pm |
  135. Michael Quach

    History shows that a nation cannot tax itself to prosperity; tax cut is the best way to stimulate economy, allowing the citizens to decide what they should do with their own hard earning money. Also, tax increase will minimize investment from the private sector, and kill jobs!!!!!!!

    July 6, 2010 at 6:26 pm |
  136. Mary

    Raising taxes has always been a Democratic way to solve problems...let congess pay their fare share of taxes for a change and see how quickly they do NOT vote to raise them! IF they had to pay like all real Americans, Congress would understand how we just are sick and tired of these hikes and taking away our hard earned monies.

    July 6, 2010 at 6:26 pm |
  137. Bob

    Jack, the best thing for Congress to do is to either impeach Obama, and or resign. I am afraid my wife is correct when she says that one day the American people will awake and revolt.

    July 6, 2010 at 6:26 pm |
  138. Sergio A. Martin

    Jack,

    I am so tired of the tax complaints. Those tax cuts are the very cuts that ate up the surplus that Clinton left behind. Bush thought they would help our economy. What should Congress do? - it should raise our taxes on oil for passenger cars, junk foods of all sorts, legalize Marijuana and tax that, and we certainly need a war tax. Once Republicans realized that the war has to be paid, maybe it would end, and we would re-think our impetus to go to war.

    By the way, who cares that a dead millionaire has to pay a tax - boo-hoo!

    July 6, 2010 at 6:27 pm |
  139. Janos

    The top 1% of our society holds over 90% of our society's wealth, the tax cuts had virtually no impact on the average earner in our economy, it only really rewarded the richest in our society with the most to spend and earn. These increases will most likely be the same, having virtually no impact on the average earner and more impact on big banks and corporations which, last I checked, had executives going on multi-million dollar vacations and gambling away OUR hard earned money.

    July 6, 2010 at 6:27 pm |
  140. David

    Political puppetts bending to the elite and there tyranny will continue to tax the peasants and there unborn children. You keep taking more tools from a peasant, and demanding greater productivity you have a recipe for trouble. Peasants need to grow a spine and stop grumbling and start acting. If they can not stand up for themselves, they should fully embrace higher taxes.

    July 6, 2010 at 6:28 pm |
  141. Terry Lee

    Extend Bush tax cuts. Vote Dems out of office. Get out of Iraq and Afganistan (thought the savior was supposed to do this).

    July 6, 2010 at 6:28 pm |
  142. Allen in Hartwell GA

    July 6th, 2010 6:21 pm ET
    Your comment is awaiting moderation.

    What are they supposed to do? If Bush and his rubber-stamp Republican led Congress hadn't given all the tax breaks we wouldn't be having this discussion, and our national deficit and debt would be a lot less.
    I guess Congress should be prepared to accept that they (or their predecessors) should not have cut taxes under the G.W. Bush presidency – the tax breaks that contributed to doubling the national deficit.
    Allen
    Hartwell GA

    July 6, 2010 at 6:29 pm |
  143. William White

    For years the Bush administration has been cutting taxes and spending borrowed money on two wars. It's politically more popular to cut taxes than is is to be financially responsible, but I suppose the Democrats will have to take the blame for getting our finances in order.

    William White
    Marietta GA

    July 6, 2010 at 6:29 pm |
  144. June of Virginia

    Somebody needs to stop Congress from allowing this ongoing taxation to continue.
    The American people declared Independence over 234 years ago because we were tired of the taxation tyranny of Great Britian and the King.
    How is the United States Congress any different from Great Britian back in the late 1770's?
    Why are the American People always paying the debt of America?

    Congress is overcome with greed and it is time the American People take a stand for our rights. We work so hard to make a decent living and Congress continuously wants the American People to bail then out by paying more taxes and more taxes and more taxes.

    Congress needs to be stopped.
    Congress needs to hear the voice of the American People.
    Congress needs to be fired.

    July 6, 2010 at 6:29 pm |
  145. Ken Stuller, West Grove, PA

    What we need to do is start paying the bill. The facts are that major tax cuts were enacted during the Reagan and Bush II administrations, while increasing unfunded military expenditures for star wars and and a totally unnecessary war. Both were paid for with borrowed money. On the other hand, the tax cuts benefited the richest 20 percent of the country while the other 80 percent actually lost ground. Prior to those tax cuts, the national debt was decreasing.
    Whatever we undertake in this country, social programs, military endeavors, or other projects, we have to stop borrowing money to pay for them. It's a tough pill to swallow, but we need to pay the bill! We do that through taxes. If we don't take the pill, our children and grandchildren may be awfully sick patients.

    July 6, 2010 at 6:29 pm |
  146. Greg, Hamilton Ontario

    Thirteen trillion in debt and you think Taxes shouldn't go up? When Bush cut all those taxes he did it with the knowledge that the next adminstration would have to pay the bills he couldn't. Obama has to choose between raising taxes and paying the bills of yesterday as well as today. Maybe he should he should do what Bush did and keep the do nothing approach to payng the bills. Your dollar won't be worth the paper it's printed on but your taxes won't go up.

    July 6, 2010 at 6:30 pm |
  147. Gerald W.

    nothing. They have had a free ride long enough. t
    The rich need to contribute something.

    July 6, 2010 at 6:30 pm |
  148. N Fortson

    I am not sure what congress will do? But I am certain that Obama will push to make sure that the tax rates on individuals making under $250,000 are not increased. Look at your 2009 tax return. :Joe the Plumber" even benefited in that part of his unemployment benefits were excluded from tax. Remember "Joe the Plumber"....the guy who was fighting the battle for people making over $250,000. He did not have a job and was delinquent on his taxes.......sad story.

    July 6, 2010 at 6:30 pm |
  149. Dana

    I feel we should have a flat tax. Tax everyone the same 10%. If you make 10,000 a yr, you pay 10%. If you make 100 million a year you pay 10%. It is the only fair way to have everyone pay their fair share. No more loopholes for the rich and no more free ride for the poor. The middle class is tired of paying everything!!

    July 6, 2010 at 6:30 pm |
  150. Janos

    What should congress do? It's Job. Government shouldn't be treated as a popularity contest it should be treated as an administrative job in which the elected are employees and the people their employers. The people should select officials based on qualifications and credentials not on personality and personal values which should have no baring on the job.

    July 6, 2010 at 6:30 pm |
  151. Rick

    While these taxes go up, we should also be repealing the 35 billion dollars worth of tax breaks to the oil and gas industry. It is the richest industry on the planet, why do we give them tax breaks?

    Why don't we also tax stock options and coporate bonuses that exceed 25% of the receipent's salaries?

    July 6, 2010 at 6:30 pm |
  152. tomkauycheck

    all the politicians that vote for all these new taxes should resign
    or they should be throw out of office. the democrats think all our
    problems can be fixed by raising taxes. throw the bums out now.

    July 6, 2010 at 6:30 pm |
  153. Bob

    The Bush Tax Cuts were a mistake from the start. Bush's first Treasury Secretary, Paul O'Neill, warned the Bush Administration the US couldn't afford them. Well now we're looking at a disgusting, gigantic national debt of $13 trillion, that I, and other members of my generation, are going to have to pay until the day we die. Look me straight in the eye and tell me O'Niell wasn't right. I dare you.

    July 6, 2010 at 6:31 pm |
  154. NICK G

    And how are we going to pay for anything if the government doesn't collect taxes. I like to drive on durable and strong roads, I like to have my mail arriving on time, I would like to feel secure with an army that is well equip and well trained. But I think most American have this warped view on how the country is run. Ever since the mid-70s everything the governments has done as been finance by borrowing from private banks, not our taxes. These are used to pay the interest from the loans. The US should go back on using the tax code of the 50s, when the rich used to pay paxes because they make a lot, a lot, not the obscene amount they get now by doing pretty much nothing.

    July 6, 2010 at 6:31 pm |
  155. Nathan Seper

    I believe with our huge natinal debt, this new taxes and tax increases aren't enough. In fact we should have more tax hikes and raise the old ones even higher. Fiscal responsibilty will be a key factor in rebuilding the economy. We can't accept a small cut in the deficit, we have to slow the growth of our debt. I realize a tighter budget will tough millions, but it is better then the bankruptcy of the richest country in the world.

    July 6, 2010 at 6:31 pm |
  156. Louden Folts

    I think that Congress should do nothing. I am pretty sick of people being all "yellow ribbon" about the wars and not being willing to give up a darn thing to fight them. Tax cuts in war time is why we are broke. A very good public relations campaign has us thinking our citizenship is free, that "our money" is our money, rather than a national currency that has no value outside that given by US. BS concepts like reducing social security, a program robbed of its assets over the years, so we can continue to wage wars without financial inconvenience is a miracle of modern marketing.
    -Louden Folts, Corvallis, OR

    July 6, 2010 at 6:32 pm |
  157. Michael of Manorville, NY

    It seems that the country is finally beginning to open their eyes to where this governement is taking us. Congress needs to not only understand that we, as the people who pay for their out of control spending, are done! WE are broke and WE have nothing left to give. It is time we exercise the greatest American right of all...The Vote!! Let them hear us through the voting booth. It is time they start to listening to us. I truly believe that we need to vote out each and every current member of congress and start anew. And if the those new members don't get it then we vote them out as well. It might be silent when your in their casting your vote but the results can be ear shattering!! It is time to scream!!! My wife and I work more and more each year. Between taxation and college tuition I cannot financially afford to be an American any longer. No congress has the right to tax us into poverty.

    July 6, 2010 at 6:32 pm |
  158. Robert Brooksville, FL

    Eliminate the FED, Vote for the Fair Tax, Bring home our troops

    July 6, 2010 at 6:33 pm |
  159. Brian Smith PhD San Diego CA

    Congress will do what it always does,….. point the finger across the isle and say, “It’s that party’s fault, not ours.” The new taxes will go into effect unfettered, likely with a zillion dollars of pork, and we taxpayers will simply wallow in our complaisance and take it up the kazoo. And they say this is a “free” country. Show me the “free” part.

    July 6, 2010 at 6:33 pm |
  160. Diane Dagenais Turbide

    Jack,

    beside finding quite interesting all the comments to this question; surely major changes need to take place in regards to the tax code as well as to the entitlements programmes on top of keeping investing in the recovery and hope people do see why we need more collaboration than division from elected officials! Take care Jack!

    July 6, 2010 at 6:34 pm |
  161. Justin

    Repeal the Federal Income Tax. The government has no right to any percentage of the wages we rightfully earn simply based on the fact that we were born here and have jobs. Enough revenue is generated from the insurmountable amount of goods and services that are already taxed enough. Congress should cut military spending by at least 1/3. Excercise a pay cap for incumbents making over 100k annually and decriminalize the possession, cultivation and sale of industrial hemp and marijuana for adults 21 and older. Tax that and the feds will have about 5 billion extra dollars to play around with and spend uselessly amongst themselves. American citizens shouldn't pay more taxes, Congress should spend less of our money.

    July 6, 2010 at 6:34 pm |
  162. Jennifer California

    Obama (Liar N Thief) will just look in the camara and convince us all that he never muttered the line about those making under $250,000 will see a tax hike. Of course the MSM will never run a fact check, and challenge Obama on this. So tired of Obama blaming Bush when Democrats have held congress since late 2006. (Obama was a Senator then over-spending Americans money.)

    July 6, 2010 at 6:34 pm |
  163. ed

    what so many people dont want to deal with is how to pay for 8 yrs
    of bush adm. money mismanegment – the return to past tax base
    should be left alone to do what needs to done, pay down on the
    debt we have!!! but do not increase tax on destructed areas
    that need help-

    July 6, 2010 at 6:34 pm |
  164. steve

    I think Congress should have to give up, half there pay and vacation, no more dinning out or "Taking busines trips" on our dollar. and there pensions should be taken away and they should have to invest into a 401k. Or maybe we should start out sourcing there jobs to China. And they can learn to just deal with it like alot of Americans have had to do.

    July 6, 2010 at 6:34 pm |
  165. tax heights

    Well first we have to stop all the ridiculous spending. Raise taxes on the rich, and big oil. Legalize medical marijuana. Then if you really want to make some progress take a look at our free trade agreements the Bush admin. put together.

    Maybe if we held people accountable for the job they do it would not be so jocular.

    July 6, 2010 at 6:34 pm |
  166. dtanders

    Let the cuts expire. Tax rates are too low to balance the budget without the sort of unreasonable spending cuts that people only claim to want.

    July 6, 2010 at 6:35 pm |
  167. Gerald W.

    Let the tax cuts expire. It hits mostly the rich.

    July 6, 2010 at 6:35 pm |
  168. Chris

    Clearly something needs to be done to stop the ever growing gap between the wealthy and the poor. I think one of the best and simplest ways Congress can fix this problem is by creating a Flat Tax program. With a Flat Tax incomes are taxed at the same rate and there are no tax brackets. Also, there are typically no tax deductions other than personal and dependent allowances. While some individuals in the extreme upper socioeconomic bracket may not work as hard as a single mother working 2 jobs to feed her kids or vice versa, personally I find it unfair to heavily tax the rich and grant reductions to those who are struggling financially. As I said earlier something needs to be done to decrease the expanding gap between income brackets; it is simply how the real world works, there will always be some who are financially better off then others.

    July 6, 2010 at 6:36 pm |
  169. dan hite illinois

    Well first we have to stop all the ridiculous spending. Raise taxes on the rich, and big oil. Legalize medical marijuana. Then if you really want to make some progress take a look at our free trade agreements the Bush admin. put together.

    Maybe if we held people accountable for the job they do it would not be so jocular.

    dan hite

    July 6, 2010 at 6:36 pm |
  170. Ryan the OC in Portland, OR

    Tax rates have been relaxed considerably since the Eisenhower era. Congress should introduce legislation that will increase the tax rate for any household earning $100,000 or more, which is roughly 17% of households in America. Congress needs to think critically not politically and address this essential issue.

    July 6, 2010 at 6:36 pm |
  171. fred, montello, nevada

    They won't do anything. Then they'll take the extra projected revenue and rather than use it to reduce the deficit, they'll start a whole new round of spending, increasing the deficit even more. But of course, the economy will by that time have ground to a halt as anyone who is lucky enough to still be working won't have anything left to spend.

    July 6, 2010 at 6:37 pm |
  172. Mike in Denver

    I would say that Congress should keep it simple, and just institute a flat tax, but when was the last time any politician made something simple.

    One tax rate, understandable, with less stress and headaches for all.

    July 6, 2010 at 6:39 pm |
  173. Donna

    Just my opinion, Congress needs to take a pay cut!! We as the middle class are getting squeezed enough, it is their turn to feel the squeeze. Let them try to get all the bills paid, feed the kids, get school supplies and still have enough left to put food on the table. They can walk or ride their bikes to work. It doesn't matter how much we all complain and bicker, Congress will do whatever they want and we will just keep getting squeezed. The deficit will never get brought down as long as we pay and Congress spends. If anyone needs to get taxed it is those who have the money not those who are trying to make it week to week!

    July 6, 2010 at 6:40 pm |
  174. Paulette in Dallas,PA

    Congress is bleeding our people dry. Local taxes have increased tremendously where I live and now more federal taxes on top of these. We are paying more and getting less. To boot,they cut the child deduction by half. These fools are ruining our once wonderful country. They have made such grave mistakes and now the little guy and middle class again will be squeezed till they bleed. Maybe that first blogger you mentioned on air may have a point here Jack!

    July 6, 2010 at 6:41 pm |
  175. Chris from San Diego

    Why would we want to raise taxes? Obama already did that with the health care reform. I'll need the money to pay my health care insurance that the Democrats said would increase.

    July 6, 2010 at 6:41 pm |