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Post by Guest on Tue Apr 12, 2011 11:04 pm

Obama prepares to revive tax cut debate -- for now and 2012


Namely, tax rates for wealthier Americans.Late last year,
Obama and congressional Republicans looked at the expiration of the tax
cuts signed into law by President George W. Bush.Obama wanted to
extend those tax cuts for the middle class, but not for the wealthy --
defined as individuals who make more than $200,000 a year and couples
who make more than $250,000.Republicans objected, saying no one's taxes should be raised during hard economic times.As
both sides stared at the expiration of all the Bush tax cuts -- and de
facto tax hikes for all Americans -- they agreed to a temporary,
two-year extension of those tax rates instead.

CAPTION
AP



Obama said he would raise the issue again the next time the Bush tax cuts expire - whichhappens to be 2012, a re-election year.That effort begins early, with Wednesday's speech.
http://content.usatoday.com/communities/theoval/post/2011/04/obama-prepares-to-revive-tax-cut-debate/1

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