Obama Strikes Deal on Bush Tax Cuts and Unemployment

Obama Strikes Deal on Bush Tax Cuts and Unemployment

It looks like Congress and the president have finally made an economic decision which I think will be beneficial to everyone. It appears that a deal has been made to extend the so-called Bush era tax cuts for a period of two years for all taxpayers. In addition to that, there is a reinstitution of the estate tax were states greater than $5 million. It is also my understanding, that this new tax deal will give a 2% reduction in the so security taxes for 2011 for employers. That also is a welcome sign of progress. Finally it appears that this deal will allow all businesses to write off 100% of capital expenditures for 2011. Once I know more about the complete deal I let everyone know.