Saturday, December 4, 2010
Obama Signals Openness To a Tax-Cut Deal
The topic of tax cuts has been a heated one. After the U.S. Senate recently denied the proposals of the Democrats to extend the Bush-era tax cuts for the middle class permanently, Obama said he would be open to the extension of tax cut for the affluent. Politicians have to tread very carefully here because the U.S economy hasn't been really out of the woods yet, so any tax increase might have a negative impact.
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2 comments:
This is really a good news for many that the Obama government is striving to preserve tax-cuts for middle income groups. However, how are all these tax breaks and cuts assist the government in repaying its debt and in introducing the universal health insurance for all?
Its clear what the American people want right now and there is a definite debate over the best course for all. I have also heard a lot of argument over the addition of an estate tax for individuals with a total wealth over $1M. The government should be careful in which taxes they choose to impose and which ones they choose to cut.
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