Robert,
It was George H. W. Bush (W’s father) that said “Read my lips.” during the 1988 campaign, in response to a question about whether he would raise taxes. He said he wouldn’t. The actual quote (or close to it) was: “Read my lips. No new taxes.” After he was elected he raised taxes. He knew what a death sentence for his campaign it would have been if he had said that he planned to raise taxes, as it was for Mondale’s campaign in 1984. Since then it’s rare for a politician to say that he/she plans to raise taxes, even if they know it’s likely they will have to after they’re in office.
John Stevens, EA
Stevens Tax & Accounting, Inc., dba Equi-Tax
651-773-5000
FAX 651-457-4529
equitax@unique-software.com
www.equitax.net
From:
Sent: 10/30/2008 11:16 AM
To:
Subject: Re: [taxchat] do i have this right
Your thoughts seem correct. However, remember the words of George H Bush - Read my lips. Those words got shoved back down his throught. Don't take anything said during the election process as gospel.
On Thu, Oct 30, 2008 at 8:06 AM, iakleincpa <iakleincpa@yahoo.
For Obama, proposing to restore rates that are currently 33 and 35%
for taxpayers to 36 and 39.6% ?
and
then just no working family tax cut if make under 250k. (250k agi not
taxable income)
Thanks,
Ira
IRS Circular 230 Disclosure: Unless expressly stated otherwise in this transmission, any tax advice contained herein, forwarded with or attached to this message was not and is not intended to be used, nor may it be relied upon or used, by any taxpayer for the purpose of (1) the avoidance of any tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax transaction or tax-related matters that may be addressed herein.
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