Gingrich to Newsmax: Republicans Must...

Gingrich to Newsmax: Republicans Must Hold Line on Taxes

There are 2 comments on the News Max story from Nov 17, 2012, titled Gingrich to Newsmax: Republicans Must Hold Line on Taxes. In it, News Max reports that:

Republicans in Congress should be putting options on the table to raise government revenues as part of fiscal cliff negotiations, but raising taxes should not be one of those options, Newt Gingrich said in an exclusive interview with Newsmax TV.

Join the discussion below, or Read more at News Max.

Chris

El Monte, CA

#1 Nov 17, 2012
We need to focus on lower taxes and job creation.

Chris
Owner Cel Financial Services
IRS Registered Tax Return Preparer
Registered bonded California CTEC Tax Preparer
Please visit my website for all your Income Tax Fillmore needs.
http://local.yahoo.com/info-78923994-cel-fina...
Researcher

Killeen, TX

#2 Nov 19, 2012
Chris wrote:
We need to focus on lower taxes and job creation.
Chris
Owner Cel Financial Services
IRS Registered Tax Return Preparer
Registered bonded California CTEC Tax Preparer
Please visit my website for all your Income Tax Fillmore needs.
http://local.yahoo.com/info-78923994-cel-fina...
Taxes are the lowest they'v been in a long time, especially for the top bracket.

2009-2011 Federal tax rate for married people filing jointly (I tried to pick what would have been a mid-income family during each designated time period)

$68,000-$137,300 = 25%
TOP rate (over $379,150)= 35%

REAGAN – 1981-1989

1981
$45,000-60,000 = 49%
TOP rate (over $215,400)= 70% PLEASE NOTE

1987
$45,000-90,000 = 35%
TOP rate (over $90,000)= 38.5
(After 1987, tax rates got very complicated, with “tax bubbles,” etc.– there is no straightforward tax table)

http://www.taxfoundation.org/publications/sho...

We do need to simplify the laws and get rid of a lot of deductions.

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