Why Bush Tax Cuts Should be allowed to Expire


Nobody likes to pay taxes yet we all know that paying taxes is part of modern life. As such, everyone generally rejoiced when tax cuts were implemented during the Bush era starting from the early 2000s. The tax cuts at that time were enforced to give a semblance of a balanced budget. But these tax cuts were only good through 2010. Thus, on December 31 this year, the tax cuts will expire and Congress will deliberate what to do thereafter – should these tax cuts be maintained for future budgets or should they be allowed to expire.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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