December 06, 2010
Andrew Presti- Author's Bio
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As debate rages on extending tax cuts set to expire at the end of the year, politicians are making misleading statements about who might be hurt or helped.
Before the midterm elections, President Barack Obama insisted that lower income-tax rates should be permanently extended only to those he called the “middle class.” People in the top two tax brackets would face higher rates. Now, with Republicans triumphant, the White House is trying to hash out a compromise so rates don’t automatically revert to their higher, pre-2001 levels for everyone in the new year.