7:15 am December 6, 2010, by Henry Unger
It looks like a deal is in the works to temporarily extend the Bush-era tax cuts for all income levels, as well as jobless benefits for millions of Americans, Associated Press is reporting.
Some details between the Democrats and Republicans need to be worked out, including how long the tax cuts would be extended for. One report says it will be for two years.
What do you think of this compromise? Should the wealthy be able to keep the lower rate? Do you think they’ll spend it on creating jobs?
This compromise will obviously raise the federal debt, but it’s meant to reduce some of the pain of prolonged unemployment in this weak economy. Which should take priority right now — helping people or the reducing the debt?
- Henry Unger, The Biz Beat
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