- Fighting In Gaza Continues Despite Calls For Cease-firePosted 4 hours ago
- Congress Reaches Compromise On VA ReformPosted 4 hours ago
- FOX Wheels: An Aluminum TakeoverPosted 6 hours ago
- Obamacare Data Discrepancies Could Jeopardize CoveragePosted 4 weeks ago
President Obama Wants To End Bush Tax Cuts For The Wealthy This Year
Let’s be clear that this is the upper-income cuts.
Obama wants to extend the Bush tax cuts only for middle-class taxpayers, and end them for individuals making more than $200,000 a year and couples making more than $250,000 annually. He says the wealthy should contribute more to reduce the federal debt.
The president and congressional Republicans agreed in 2010 to a two-year extension of all the Bush tax rates, the deal that ends this year.