Should President Obama Extend All the Bush Tax Cuts or End Cuts for Top Earners?
"World News" wants to know what you think. Share your comments below.
Sept. 8, 2010— -- President Obama is expected to announce today his latest effort to improve the American economy, including incentives to boost small business spending and plans to extend some of the tax cuts put in place by the Bush administration.
Critics, though, are taking aim at the president for ending one element of those Bush tax cuts -- the cuts that benefit the highest earners.
On "Good Morning America" this morning, House Minority Leader John Boehner, R-Ohio, urged the president to put a two-year freeze on tax rates and reduce federal spending, claiming that it will help small businesses.
"What that will do is help small businesses who have no clue what the coming tax rates are going to be," said Boehner. "It gives them some certainty."
The White House, though, says that the top tax cuts benefit only the wealthy.
"Our viewpoint on this is that... we should and must pass legislation that extends the tax cuts for middle-class families, but we cannot afford... in our budgetary and fiscal environment, to extend the tax cuts for those that make more than $250,000 a year," White House Press Secretary Robert Gibbs said Tuesday.
Our question to you today: Should Obama extend all the Bush tax cuts or end the cuts for top earners?