The hot debate in Congress at present is whether the Bush tax cuts for the wealthy will be extended past their planned expiration at the end of 2010. President Obama hopes to extend the cuts only for couples with incomes under $250,000 (and individuals under $200K). The U.S. economy is in a horrible state at the moment. Republicans are arguing that we need to keep the millionaires happy by extending their tax cuts. A recent Moody's analysis (see http://www.bloomberg.com/news/2010-09-13/rich-americans-save-money-from-tax-cuts-instead-of-spending-moody-s-says.html ) claims that the rich will not spend more to help the economy. Moody's analysts say the rich will save their money and that, in turn, will actually hurt the economy. However, from my layman's point of view, I can't see how increasing our deficit to spend more for these tax cuts will help the U.S. economy. I can remember lecture from a few economic classes I took in college that spoke of economic stimula
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