As far as the Bush Tax Cuts are concerned, the President holds all the cards. I've noticed this absurd little meme that Boehner and the Tea Party Congress have some leverage over the extension of the Bush Tax Cuts, but no. The Bush Tax Cuts will expire of their own accord at midnight 01/01/2013. No one needs to do anything for that to happen, for its automatic.
The President and the Democrats want to extend the Tax Cuts for $250,000 and less, representing 98% of the American people. The Tax Cuts for Americans making $250,000 and more, however, are gone.
The Senate has a bill all ready to go to extend the Middle Class Tax Cuts, and the President is ready to sign it.
If Boehner and the Tea Party Congress refuse to pass the Senate bill and send it to the President then on 01/01/2013 they will be raising taxes on 98% of the American people.
Let's see how the Republicans do in the 2014 midterms with that tax hike on their constituents minds.
Read the Article at HuffingtonPost
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