Bush tax cuts

Well this is the big topic right now, it is something that I am very happy to address.
First it is important to understand that in 2000 President Bush wanted to extend tax breaks to those in the top two percent of income earners in the U.S. He had a majority in the house and senate, but it wasn't a "super majority", so the bill was debated. It was not agreed on so had to go to reconciliation. Incidentally, when Obama used reconciliation it was ominously called the "nuke option". Anyway if a bill that will raise the deficit is passed this way, it must include what is called a sunset clause. This clause is just what it sounds like, a time when the bill will risk fading away. Anything that will increase the deficit and is not agreed on must "set" after ten years.
Well ten years have passed and the law is set to expire. The problem is that the Republican party does not want it to expire. That is fine, these things happen. The problem is that they are telling us that the President is going to raise taxes. That is simply not the case, some bills need to expire our government has done it before.
Well it is an election year, a very important one, so just make sure you understand the fact behind the talk.