Business

Michael d. goodman

Nation can ill afford repeal of ‘Bush tax cuts’

Physicians take the Hippocratic oath upon entry to their profession and famously promise to “First, do no harm.” National policy makers and lawmakers, unfortunately, make no such pledge.

The question now is whether Washington will get tangled up in politics and let the so-called Bush tax-cuts expire next year, effectively raising taxes at a time when the fragile recovery can least afford it. Last week, President Obama proposed temporarily extending the tax cuts for the first $250,000 of annual income, a full extension for approximately 98 percent of American taxpayers.

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