Tax Cuts for All?

With the Bush era tax cuts set to expire, a huge national debate over the extension of the tax cuts has erupted. Many economists support extending the tax cuts.

"Higher taxes are generally believed to be a drag on the economy since it leaves consumers and businesses with less money to spend. Those who argue for extending the tax cuts for the wealthy say that raising those tax rates would hit many small businesses and could put a crimp in hiring."

Less taxes will allow consumers to spend more freely.