I guess based on some of the chatter across the news channels today it looks like taxes will be the first thing to be used to take care of the spending that is currently going on. The Bush tax cuts are said to be allowed to expire and a possibility of an increase on certain people. It is being reported that anyone making more than $250,000 a year can expect to pay more taxes. Interesting, I wonder if that is the current bar being used to determine if someone is “rich”. What makes me more curious is when that bar will be lowered and it is my belief that it will because I remember the bar being moved around during the campaign. It will be comical in a sick sort of way to see where it ends up as we get closer to Jan. 1st 2011 which is when the cuts are due to expire. A little less than 2 years from now which still raises the question how will the current monster spending be paid for. I predict that President Obama will give 95 percent of the middle class a tax cut (undefined amount) and after that one time all bets are off. I still come back to future generations as well as our selves having to carry the burden. Enjoy and have a great day.
