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Thursday night saw the US house of representative, including Laredo's Henry Cuellar, successfully vote to continue the so-called middle-class tax cuts for Americans making $250,000 or less (Family) or less than $200,000 (single person). The disappointed thing about this news is that Cuellar went to say that he recommends extending the Bush tax cuts for the "rich", making over $250,000 for at least two more years. His logic is that the current economy needs those tax cuts for the rich so they can "create" jobs.
This is a failed arguement since there have been no substantial job creation since the Bush tax cuts took effect way back in 2001; why would they create any jobs now. It is not clear whether there will be a straight up and down vote in the US senate on these middle tax cut extensions.
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