President Accepts Tax Cuts
(Businessweek) — President Barack Obama said he would agree to sustain Bush-era tax cuts for high-income taxpayers in exchange for extending federal unemployment insurance and cutting the payroll tax by $120 billion for one year. Obama said he would accept lower rates on high earners’ income, dividends, capital gains and multi million-dollar estates for the next two years to break a stalemate over extending the Bush administration’s tax cuts for middle-class taxpayers before Congress adjourns. The current tax rates, enacted in 2001 and 2003, are set to increase Dec. 31.
SEE ALSO
- Adonis Dfetty Immediately Stirs Up Drama And Fist Fights In ‘Bad Boys Texas’ House
- New TLC Show ‘Seeking Brother Husband’ Showcases Polyandrous Sisters
- Wendy Williams’ Son Kevin Hunter Jr. Evicted From Miami Apartment
- Tyler Perry And Byron Allen Are In Talks To Acquire BET From Paramount
- Lenny Kravitz Maintains Rock God Status With Bubble Bath Thirst Trap And A Phone Call From Denzel Washington During Performance
