White House Gives In On Bush Tax Cuts

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I can't really disagree with that. Given the election results, I think the admin has shown that they realize they are going to have to pick their battles, and that - at least for now - this isn't one of them....

If they are smart (which is highly doubtful of either party in DC).... they will pass a bill that:

1) Extends all tax brackets for the next two years
2) Sunsets the tax brackets over $250k beginning in 2013, while making the remaining brackets permanent.

As for the rest of the Bush Tax cut bill... it will be interesting if things like the child tax credit continue on as they were or will they revert back to the pre Bush cuts era? That alone could cause a nice hike on low and mid income families with kids.