Bush Tax Cuts Should Be Permanent

Thursday, 22 Jul 2010 02:19 PM

By Andrea Tantaros

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Though few are talking about it, the most important political fight to hit Washington is on deck to occupy the next six months of debate: Whether or not to extend the Bush tax cuts, which are set to expire at the end of the year.

While it doesn't sound sexy, the ramifications of the decision will be a crucial pivot point for the national economy.

Although the 2001 and 2003 tax cuts were passed with bipartisan support, you can expect class warfare this time around. Liberal Democrats will push to keep the cuts in place only for the middle class, while screaming that Republicans are eternally trying to favor the rich.

On the other hand, fiscally conservative Democrats and most Republicans will point out that hiking taxes on the rich will wreak havoc on investment and employment projections. And they're right.

To read more — Go Here Now.

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