(CNN Money) — Higher taxes on the nation’s top wage earners could give a needed jolt to the struggling U.S. economy. Or it could be the tipping point that topples the nation back into recession. That sums up the stakes in the debate over what to do when the so-called Bush tax cuts expire on Dec. 31. Commonly-accepted economic theory says that a weak economy is bad time for a tax increase, as higher taxes slow spending and thus economic activity. But with the federal government running record deficits and many economists calling for additional stimulus, there are those who believe higher taxes are needed to fill the gap.
[Watch] Rapper 3D Na’Tee Exposes Instagram Stunters In Hilariously Sad But True Music Video, “Do It For The Gram”
T.I. Speaks On His Chat With Snoop Dogg To End ‘Beef’ With Iggy Azalea, And Tells Iggy’s Haters To “Kick Rocks”
“I’m Talking No Money In The Account Bad” Flex Alexander Details Financial Struggles In New Flex And Shanice Trailer
Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN