(Read the full article here: Obama Calls For Tax Cut Extension On Middle Class; Romney Does Or Does Not Agree)
Just days after the third woeful jobs report in a row, Barack Obama will call on Congress Monday to extend the Bush-era tax cuts for one year on individuals making less than $250,000.
Obama extended the Bush tax cuts almost two years ago, striking a lame-duck session deal that exchanged tax cuts for the wealthy for middle-class tax cuts and stimulus measures. The compromise proved a winning one for Obama, who came out of the lame duck session with the wind at his back, but was deeply unpopular with liberals. More damaging, the extension of the tax cuts on the wealthy exacerbated the deficit, for which the Republicans have hammered him ever since. Not surprisingly, Obama has been adamant that the compromise will not happen again, and today’s announcement is a confirmation of that determination….Read More