What The Tax Cut Extension Means for You

When President Obama officially extended tax cuts enacted by his predecessor in a Rose Garden ceremony today, he ensured the average American will pay about $2,000 less in taxes per year for the next two years. That figure includes a temporary holiday on the payroll tax, which helps fund Social Security. The tax cut extension means big bucks for the super-rich. LeBron James, who makes $14.5 million each year, will save more than $600,000 in taxes for this year. A family making $100,000 per...Full Story