White House Gives in on Bush Tax Cuts?

11 Nov

According to a story in the Huffington Post, one of Obama’s top advisers, David Axelrod,  suggested that “the administration is ready to accept an across-the-board, temporary continuation of steep Bush-era tax cuts, including those for the wealthiest taxpayers.”

The “Bush tax cuts” are set to expire at the end of the year and Republicans are in favor of extending the tax cuts for all Americans, while most Democrats want them extended only for individuals making less than $200k, and couples making less than $250k.   Republicans argue that many small businesses owners will fall into the category of Americans who would see their taxes increase if the Bush tax cuts are allowed to expire, which would not be helpful at a time when they are already struggling.

Do Democrats really believe that the “rich” (including small business owners) should be paying higher taxes during a recession because it will make our country better off?  Or is it simply a question of “fairness?”

Could it be that Obama and the Democrat know that Americans are paying attention now, more than ever.  If the economy begins to improve over the next two years, the last thing Democrats want is for the American people to believe it was due to tax cuts.  Their constant push and insistence on raising taxes would take a big blow if this happens.

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