Will Taxes on the Wealthiest Increase??
The Obama administration appears to be holding strong on taxing the wealthiest Americans by announcing they plan to allow the Bush tax cuts expire as scheduled (12/31/2010). Treasury Secretary Tim Geithner is willing to oppose the Republicans and a small but vocal group of Democrats who want to postpone the tax increases. Ben Bernanke told lawmakers that the U.S “should maintain our stimulus in the short term.” Extending the Bush tax cuts “is one way” of doing that, he said. “There are other ways as well.” It appears that the debate will be center stage over the next coming months. For more information regarding this issue, go to the article published in The Wall Street Journal.