Obama’s tax cuts

This week Obama stuck a deal with which sees him try to revive the US with cuts instead of extra spending. Labour in NZ should take note. Obama has agreed to:

  • Extend the Bush for two further years which were due to expire at the end of 2010
  • Reduce for one year the Security payroll tax from 6.2% to 4.2%
  • Increase the for the from $1m to $5m ad reduce the rate from 55% to 35%

It will be interesting to observe the President's poll in the next month.

Comments (73)

Login to comment or vote

Add a Comment