July 9, 2012 by David K. Sutton
CNN – President Obama Calls For Extension Of Bush Tax Cuts For Middle Class
Today President Obama called for a one-year extension of the Bush tax cuts for all but the richest Americans. While a tax hike for the middle-class might have a negative impact on the economy, the same cannot be said for top tax bracket earners.
I think we need to let all of the Bush tax cuts expire. We can’t afford them, and I believe the impact to the economy could be offset by another round of stimulus, targeted at infrastructure projects that can benefit the country for decades to come. But that makes too much sense for Washington, particularly Republicans. Expect another heated battle at the end of the year, only this time Obama will have nothing to lose regardless of the outcome of the election.
President Barack Obama revitalized his push for holding down middle class tax rates Monday, calling on Congress to pass a one-year extension of the Bush-era tax cuts for people earning less than $250,000 a year.