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Tax ticking time bomb

The Obama administration is pressing to extend the Bush tax cuts for everyone with an income under $250,000 a year and to raise taxes on those above.

This so-called middle-income tax cut first sounds very fair, but until you look deep into it.  We know most small-business households earn more than $250k, and they are the main job creator of the US economy.  You simply don’t want to raise job-generator’s tax during time of huge economic uncertainties with very high unemployment.

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