More Democrats break with Obama on tax cuts

Recap:

This article discusses whether the Bush era tax-cuts will come to an end or not at the end of 2010. President Obama wants the tax cuts to end. However there is a catch, he only wants to raise taxes for people/families who make over 250 000$ per year. 31 democrats have signed a letter to extend the tax breaks after the conclusion of this year. People who have signed this letter such as Gary Peters believe the tax cuts should continue because raising taxes could hurt the economy at a fragile time like this. Many of them believe in recovery after the recession and believe they shouldn't raise taxes. Obama wants the Bush era tax cuts to end and the republican party disagrees. Now that there is a bill circulating with 31 house democrats supporting the tax cuts to continue, it is looking like the republican party may get there way.

My Opinion:

I truly believe that they shouldn't raise taxes. In one of the other articles I analyzed, it discussed how Obama wanted the tax cuts to end because he said it could cost the USA government up to 700 billion over the n ext decade. I truly believe that taxes should not be raised for anyone. Yes, it is important for people to invest in the economy and that's what the taxes would be doing, however raising taxes for the upper class may do that but I truly believe as I stated in one of my other posts that people should invest in the economy on their own will. Raising taxes would force them to do it. I truly believe that what the 31 house democrats and the republican party is doing the right thing by trying to freeze the tax breaks for another 2 years.