You should catch up on your current events. Obama is in favor of extending the Bush tax cuts for all but the highest earners. Your tax cuts will remain in place for at least one more year, likely longer.
thought police wrote:
If Obama doesn't allow the tax cuts to be extended before January 1st, the market will get hurt pretty hard.
As a middle class guy, trying to move up in the world, Obama's obstinance on this issue really pisses me off. If the tax cuts don't get extended, I'll have to pay about $200 more per month in taxes - less money I can use to consume and support the economy.
Furthermore, as a responsible American, I try to save money and invest it to grow my nest egg. If the tax cuts aren't extended, the value of my investments will suffer, costing me even more money.
Obama is supposed to be for the middle-class guy, but if he does what he says he's going to do, my taxes go up and my investments go down.
Obama can suck it, for all I care. I earned my money, I want to keep it.