ETF Winners And Losers From The Great Tax Compromise
December 23, 2010 at 10:00 AM EST
Though the recent tax agreement between the Obama administration and Congressional Republicans was hailed as an historic compromise, there is no shortage of politicians and organizations–from both the left and the right–expressing frustrations with the accord. In addition to extending the Bush-era tax cuts for an additional two years, the deal signed into law last week introduces a 2% payroll tax cut for one year and prolongs the 99-week extended-unemployment benefits for another year. In promoting the tax cut plan to Congress, Obama presented the deal as a measure that would stimulate spending while at the same time extending unemployment benefits for those hit hardest by the recent downturn. While the plan received bipartisan support in Congress, critics from both the left and the right were quick to blast the compromise. Liberals ripped the extension as a bailout for wealthy Americans, while some fiscal conservatives lamented that the tax cut extensions [...] Click here to read the original article on ETFdb.com.