Ed Butowsky, Managing Partner of Chapwood Investments Management, appears live on Fox & Friends Sunday on Fox News Channel to discuss the Bush tax cuts set to expire in January. More importantly, should the President allow these cuts to be extended or allowed to expire? Could a tax cut extension help or be a debilitating affect on this economy?
Ed Butowsky explains that the worst thing this administration could do is to allow these tax cuts to expire. Is this worse than the recession news itself? Ed further describes that the biggest player in this economy is the wealthy – they buy, sell, and create new jobs. Without their part this economy could slow down even further.
FACT – The Top Taxes on Top Earners (based on IRS income tax reports):
- 2007 Tax Year – The top 1% of earners paid 40.42% of Income Taxes
- 2007 Tax Year- The top 5% of earners paid 60.63% of Income Taxes
Tags: bush tax cuts, deficit, economy, fox news, money, stimulate the economy, taxes, us government, wealthy
Well the economy has been really terrible lately. I’ve been needing a job for months now. I have a masters degree in engineering but can’t get a job! Bah!!! Help us Barack
On another note the US economy has been really bad lately. I’ve been on the job market for months now. I have a masters degree in programming but can’t get a job! What has happened to our nation?!
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An objective without a goodplan is just a fantasy in my opinion
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Information like this you don’t hear from your broker or financial planner. Probably b/c they don’t want to scare you. I think its been a long time coming that society realize how much censorship we get here in the land of the free speech. Great Job Ed. Keep up the great work.
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