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Obama Wants Compromise on Bush Tax Cuts
"[M]y hope ... is that given [that] we all have an interest in growing the economy and encouraging job growth that we're not going to play brinkmanship but instead we're going to act responsibly." - US President Barrack Obama
A day after the Republicans won control over the House of Representatives, President Obama said that he is willing to negotiate to ensure that Bush tax cuts for middle class will be extended by January 1. The president has been declaring the he wanted the cuts to be permanently extended to $250,00 for married couple and $200,000 for single filers only. A part of the cut that applies to income over $250,000 would expire by December 31. Meanwhile, Republicans are pushing to permanently extend the cuts to everyone regardless of the income.
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New Option: Tax the REALLY Rich
Many politicians aim to extend the tax cut for households that makes up to $1 million. But not President Obama. Will there be any way to achieve a consensus that can go on permanently?
President Obama has drawn a line on the Bush tax to $250,000 that is set to expire by the end of the year. The president favors to let them expire permanently for households making below $250,000 and individuals making less that $200,000. Obama argues that the economic recovery won’t be harmed by an increase on […]
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