The US House and Senate voted to pass the Bush tax cuts that President Obama recently compromised with the Senate. The compromise tax bill that would extend the current tax rates for two years may help boost a struggling economy. The tax rate extensions have combined with 13 additional months of unemployment benefits include two years of benefits hard-pressed into law.
The president’s tax policy will increase the trillion dollar deficit along with the 35 percent death tax included in this compromise. Some congressional members are calling the tax extensions not a tax cut because it is not going to fuel the economy or job growth for the middle class.
Why did the president provide big business a two year assurance of tax stability when the tax cuts should have expired forcing newly elected legislative members that will be sworn in this January to form a new tax bill for the very core of economic expansion for both small businesses and the middle class enhance consumer spending in a booming economy.
The wealth in reality receives a tax bailout stimulus package that rivals what the auto and banking industries received from both Bush and Obama’s administration.\
Is The Bush Tax Cuts Extension A Stimulus Bailout Package?
What Do You Think?