Taxes

The big debate is whether president Obama increases or decreases taxes. I found an article that breaks down the math for us. Obama says "I also lowered taxes for small businesses 18 times. And what I want to do is continue the tax rate — the tax cuts that we put into place for small businesses and families". 8 of these were temporary and are no longer in place. 5 were enacted by president Bush. The 5 left over results in 3 billion dollars. Now he wants to raise taxes by 52 billion according to figures from the joint committee on taxation and the IRS. Of course some people will argue that he has cut taxes more than president Bush. Bush's tax cuts in the first four years were about 475 billion. Obama's tax cut's in the first four years were 1 trillion which includes Bush's tax cuts that were extended. If it weren't for Bush's tax cuts being extended, Obama's total tax cuts would come out to 290 billion. We can talk figures all we want, but the numbers don't matter if the business owners and hard working American don't see the cuts. Obama's "tax cuts" include tax incentives, which means you have to spend money to see the savings. So all that money can go towards the stats, but is it really helping? Are the business owners really saving money?