Quote:
Originally Posted by lookout123
Define the bush tax cuts you'd like to see end.
Define the top income earners you'd like this to apply to.
Please.
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By Bush tax cuts, I mean the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Both were intended to phase out in 2010.
The Republicans want to extend them in the current form and make them permanent; Obama and the Democrats want to let then expire as was stipulated in the legislation when they were enacted, return the top tax bracket to the pre-2001 level and enact new tax cuts focused primarily on the the middle two tax brackets...the middle class.