The White House is seriously thinking about pushing for new tax cuts to bring added relief to middle class families.
This strategy stands in stark contrast to the approach taken by Democratic presidential candidates, all of whom have, at one time or another, proposed hiking taxes on income, energy, and payrolls as well as adding an entirely new tax on wealth.
Several ideas are under consideration in the Oval Office, including White House chief economist Larry Kudlow’s suggestion of a 15% income tax rate for the middle class.
Another proposal pairs strong political appeal with good economic incentives; it would allow middle class families to put as much as $10,000 each year into a tax-free savings account.
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