Poll: Should Obama Propose Extending Tax Cuts to All?
President Obama wants to extend tax cuts only to those making less than $250,000.
As President Barack Obama prepares to visit Fairfax County, one of the wealthiest counties in the nation, on Saturday, members of Congress are debating whether to heed his call to extend a Bush-era tax cut to families making less than $250,000.
Republicans want to see that cut applied to all, including families making more than $250,000.
House Majority Leader Eric Cantor, who represents Virginia's 7th Congressional District, said he would schedule a vote later this month to extend the cuts to all, including the wealthy. Obama has said he would veto anything that includes tax cuts for all.
Former Gov. Tim Kaine, a Democrat and friend of the president, disagrees with Obama on the cut-off point. Instead of just extending the tax cuts for those making less than $250,000, Kaine said this week he would like to push the gross income ceiling to taxpayers making up to $500,000 annually.
Kaine is embroiled in a tight U.S. Senate race with Republican George Allen, a former governor and senator running for his old seat. Both candidates have traveled the state making their case to potential voters, including many small business owners.
Obama's visit to Fairfax County on Saturday is part of a two-day campaign swing through the state. He'll visit a county with an average income per family of more than $100,000 annually, putting it in the top tier of the country's wealthiest counties. More than 30 percent of the county's households make $150,000 or more, according to the U.S. Census Bureau.
The area surrounding Centreville High School, where the president will speak at a Saturday afternoon campaign rally, is home to ZIP code 20124, where about one in five taxpayers file returns of adjusted gross incomes of more than $200,000. Of 7,046 tax returns filed in 2008, 1,435 were filed with adjusted gross incomes of more than $200,000, according to the latest records available from the IRS.
What do you think the president should propose? Extend tax cuts to all? Only to those making less than $250,000? Up to $500,000? None of the above? Take our poll.