The Great Tax Cut Debate - Myths and Facts

In the lame-duck Congress agenda, perhaps the most substantive debate is over whether to continue tax breaks for the rich. President Obama and most Congressional Democrats want to extend the Bush tax cuts for 98 percent of Americans, everyone making under $250,000. Republicans want to extend the tax cuts for everybody despite Bush's tax bill enacted in June 2001 to suspend the tax cuts at the end of 2010 in order to restore needed revenue. If nothing is done, everyone's taxes will rise. Follow the Truthout article here.