Obama Lashes Out at Republicans over Tax Cuts

Obama Lashes Out at Republicans over Tax Cuts

Obama Lashes Out at Republicans over Tax Cuts

As the November election season draws closer, the debate over tax cuts and jobs is beginning to heat up once again.  While the economy and job creation have been talking points since the start of the economic downturn, the final two years of President Barak Obama’s first term depend on the outcome of the November elections.  On Wednesday, the President lashed out at Republicans as he tried to push a small business bill through legislation.

The bill the President wants pushed through would extend all of the Bush-era tax cuts to families making less than $250,000, however, in order to pay for the cuts, families making over that amount would face a higher tax burden.  President Obama has accused Republicans of blocking the extension of the tax cuts and holding “middle-class tax cuts hostage.”

Republican Rep. John Boehner, the House Minority Leader, fired back at the President insisting that in order to help the economy recover, tax hikes must come to an end and governmental spending must be cut.

While the President and Republicans have begun exchanging heated words over the debate, Republicans aren’t the only ones opposing raising taxes for the wealthy.  At least 30 House Democrats have urged that the tax cuts be extended to everyone.

The latest CBS News/New York Times poll showed that the economy is still the issue in the forefront of most people’s minds.  With unemployment still hovering around 10%, the November elections will likely come down to which party wins the public’s trust on how to turn the economy around.  The poll revealed that only 20% of Americans believe the economy is improving and only 38% think the President has a clear plan for job creation.


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