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Unformatted text preview: Obama: Extend Middle-Class Tax Cuts First By JARED A . FAVOLE WASHINGTONPresident Barack Obama on Friday said he wants tax cuts for the middle class extended before any discussion happens on the GOP's main proposal: extending tax breaks for the wealthy. Mr. Obama, at a press conference at the White House, said Republicans and Democrats agree tax cuts for the middle class need to be extended. "Let's get done what we all agree on. Let's work on that. Let's do it," he said. Mr. Obama has used the bustling debate over taxes as a prime example of the differences between Republicans and Democrats. Tax cuts, enacted under former President George W. Bush, are set to expire at the end of the year. Mr. Obama wants them extended only for the middle class, or those making less than about $250,000, striking the populist stance that helped get him elected. Republicans, meanwhile, want the tax cuts for the wealthy extended, saying raising taxes on any group creates problems in shaky economic times. Several Democrats have also said the tax cuts for the wealthy creates problems in shaky economic times....
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This note was uploaded on 02/09/2011 for the course MKTG 301 taught by Professor Staff during the Fall '08 term at George Mason.
- Fall '08