Bush Tax Cuts: Some Top Democrats May Be Rethinking Tax Hike On The Rich

The Bush tax cuts are set to expire in December. Republicans are pushing to extend them all, while President Obama has forcefully argued that the country cannot afford to keep tax breaks on income over $250,000 a year for families and $200,000 a year for individuals.

But a growing cadre of Democrats – alarmed by evidence that the recovery is losing steam and fearful of wounding conservative Democrats in a tough election year – are advocating a plan that would permanently extend tax cuts benefiting the middle class while renewing breaks for the wealthy through 2011, senior Democratic aides said.

Read more: Rich Tax Cuts, Mark Zandi, Unemployment, Federal Deficit, Rich Consumer Spending, Economy, Obama Tax Cuts, Tax Hikes, Bush Tax Cuts, Business News

CategoriesUS

Leave a Reply