Lawrence Summers said Wednesday that Congress should temporarily extend Bush-era tax cuts, making him the second person with ties to the White House to undercut President Barack Obama's position that the rates on upper-income Americans should rise at year's end.Now many of you will note that President Obama's current position is that he is firmly against extending these tax cuts for the wealthy. But that was also his position before he extended these tax cuts for the wealthy in 2010. Results may vary."The real risk to this economy is on the side of slow down ... and that means we've got to make sure that we don't take gasoline out of the tank at the end of this year," he said on MSNBC's "Morning Joe" program. "That's gotta be the top priority."
But with TomP noting that Democratic senators are starting to waver, it is worth noting that House Speaker John Boehner is putting a one year extension of all the Bush Tax Cuts on the table:
Next month, we will move a bill to extend all of the current tax rates for a year.Let me guess. We need "certainty" in the economy again. Sigh. I mean, how many times are we going to keep falling for this nonsense?
The Bush Tax Cuts are like some some sort of zombie tax cuts. They just won't ever die.
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