In 2001 and 2003, President George W. Bush proposed and Congress passed a series of tax cuts to reinvigorate the economy and reduce the government’s burden on workers’ paychecks. Because of opposition to these measures from some in Congress, they were implemented as temporary tax cuts, all of which will expire by January 1, 2011. The uncertainty of their future has an effect on present-day spending by businesses and individuals, who know that they may have to pay higher taxes in the future. Today’s economic recovery provides some evidence that the Bush tax cuts worked as intended. If Congress is...
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Expiring tax cuts are a tax increase (Rats are lying again)
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