ANALYSIS, COMMENTS, THOUGHTS, AND OTHER OBSERVATIONS IN DR. SKOSPLES' NATIONAL INCOME AND BUSINESS CYCLES COURSE AT OHIO WESLEYAN UNIVERSITY
Sunday, April 11, 2010
Obama Touts Tax Breaks
This article talks about the potential and likely change that Obama wants to increase taxes. He thinks that with the economy showing a little progress, that now would be a good time for a major overhaul in the american tax system. The republicans say that now it not the time because this will hurt a lot of small businesses who are starting to rehire, and that the government needs to control its spending as an alternative to raising taxes. With taxes due in 4 days, it will be interesting to see what changes come for future.
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It's important to note that people will respond to expectations for the future, today. Sure, the higher taxes will have an effect when they are actually implemented, but there may also be a response sooner than expected.
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