What’s the scoop on the state of the Bush tax cuts?

Word on the street is that the Bush tax cuts, which were infamous for their effect on the pocketbooks of the wealthy, will be coming to an end as of next year.

Yes. The word is that President Barack Obama is hoping to let these tax cuts fade away into oblivion.

Well, before we let the talking heads on CNN, MSNBC and FOX tell us what to believe, we should have some idea of what exactly this means. If things go as the Obama Administration anticipates, the tax cuts for those making $250,000 and more will lapse.  Read more... (390 words, estimated 1:34 mins reading time)