Tax adjustments for budget support in the United States

by day dreamer Sat 06 Apr 2013, 11:14 pm

day dreamer: Interacting Investor; Posts : 3197
Join date : 2012-12-19

Post n°1

Tax adjustments for budget support in the United States

by day dreamer Sat 06 Apr 2013, 11:14 pm

Tax adjustments for budget support in the United States

07/04/2013 12:00 am

WASHINGTON - Reuters
White House officials said that tax increases are modest and demanded by Republicans months ago, will be part of President Barack Obama's proposal for the budget and expected to be published this week.
The proposal will change the way modify the social insurance pension benefits periodically to match the inflation and also - to do so - change the modified categories of federal tax per capita income result in a slight increase in taxes for many Americans.
And supported this idea, which includes a measure of inflation known as the consumer price index unrestricted Republican leaders in the U.S. House of Representatives in December and the White House officials said this idea in detail before the publication of the budget.
And strongly opposed the idea many Democrats as well as groups representing workers and pensioners because it will reduce some of the social insurance benefits. And submitting it in the budget as a concession Obama may try to bring Republicans back to the negotiating table to reduce the deficit in the coming weeks.
And supported Republicans this idea as a way to collect $ 200 billion over ten years in the proposal presented during the conflict sides on how to avoid the "gap finance" that was a size of $ 600 billion was collected between tax increases and spending cuts that were looming at the beginning of the year.
The shift to the consumer price index unrestricted of the consumer price index used by social insurance now will also change tax adjustments category to occur less frequently. As a result of this, the Americans high earners will see a larger amount of their income goes faster into higher tax categories.
Supporters say this transformation that the traditional consumer price index overstates the price increases, but opponents say the shift to the consumer price index unrestricted unfairly deprive Americans of the older subsidies that have been made to them.

http://www.alsabaah.iq/ArticleShow.aspx?ID=44222