Bush tax cuts

MEDIA WATCHDOG GROUP WARNS OF “SMALL BUSINESS BALONEY”, SAYS MEDIA FAILED TO FACT-CHECK GOP TAX CLAIMS

 
July 14, 2012 (New York)-- Barack Obama's July 9 announcement that he would extend the Bush tax cuts for income below $250,000 prompted Republican politicians and presidential candidate Mitt Romney to claim the policy is a tax increase on small businesses."

SHOWDOWN ON TAX CUTS, UNEMPLOYMENT EXTENSIONS LOOMS IN CONGRESS


Local representatives weigh in with their views

 

By Miriam Raftery

December 6, 2010 (Washington D.C.) – Congress is under fire to take action before Bush-era tax cuts expire at year’s end. Republicans want to see all tax extended, but have opposed extending unemployment benefits, which also expire this month. Democrats wanted to extend tax cuts for the middle class but eliminate tax cuts for the wealthy in order to reduce the deficit, and also extend benefits for the unemployed.  But Democrats could not pass their plan due to opposition from Republicans, who contend the wealthy need tax cuts to create jobs.

 

Now, President Barack Obama is pushing a compromise measure that would include a mix of new tax cuts, including a payroll tax cut and individual tax breaks, while also restoring some estate tax revenues.