President Barack Obama announced a bipartisan deal to extend expiring tax cuts for two years and to extend unemployment benefits on Monday.
Well, it looks like Obama has come to an agreement with the GOP concerning a tax package.
President Barack Obama reached agreement Monday with Republican leaders in Congress on a broad tax package that would extend the Bush-era income tax cuts for two years, reduce worker payroll taxes for one year and give more favorable treatment to business investments.
Other elements of the deal include a temporary reinstatement of the estate tax at 35%—the level favored by most Republican lawmakers—as well as an extension of jobless benefits for the long-term unemployed.
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Democrats are pretty mad about all of this. They want taxes to increase for everyone. They love taxes, so they can spend more. When they can spend more, they can buy more votes. It's how they stay in office.
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