JBeukema
Rookie
- Banned
- #1
After lots of talk and debate about extending the Bush tax cuts, it's now crunch time:
The lower rates are scheduled to expire on Dec. 31 unless Congress acts to extend them.
President Barack Obama supports making the current tax rates permanent for most Americans, but he wants to let the lower rates expire for couples that make more than $250,000 or individuals who make more than $200,000. Many Republicans say the tax cuts should be made permanent for everyone. Lately, though, different compromise measures have been floated. One idea is to make the tax cuts permanent for the middle-class and extend them temporarily for higher incomes. Another option would be to pass a two-year extension for everyone. Still other options call for repealing the tax cuts for the wealthy and giving tax breaks to employers who create jobs. We'll have to wait and see what sort of bill Congress actually votes on.
In the meantime, we have fact-checked many claims on the tax cuts and we've noticed some falsehoods keep getting repeated. So here are our top 5 falsehoods, plus a few runners-up.
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