Economic news as of late has focused heavily on the soon-to-expire Bush tax cuts of 2001. It's a partisan issue and one that's been debated on end. However, a new analysis out today finds that letting these tax cuts exprire will kill America's economic recovery. Read an excerpt of this analysis:
The nascent US economic recovery would be halted in 2011 if Congress fails to extend the Bush tax cuts for the wealthiest Americans, analysts at Deutsche Bank said.
The cuts were enacted in 2001 and 2003 under President George W. Bush and in part covered those earning more than $250,000, but they are set to expire at the end of this year. Tax decreases for lower-earning people likely will be continued, but the ones for the top end of the income scale are in danger of going away.
Read the rest here.
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