- President Obama said Monday he wants to extend tax cuts for people making $250,000 or less.
He says the middle class is the key to rebuilding the economy.
"I believe our propensity has always come from an economy built on a strong and growing middle class. One that can afford to buy the products that our businesses sell. That's why I cut middle class taxes every year that I have been president by $3,600 for the typical middle class family."
But the President wants tax cuts for people who make more than $250,000 to expire. That means wealthier Americans would see their taxes increase.
So how many people in the Northwoods would see their taxes go up if President Obama gets his way? Very few.
The U.S. Census Bureau does not publish data on homes making $250,000 or more. Instead, it provides data for households making $200,000 or more.
The county in the WJFW viewing area with the fewest households making more than $200,000 is Iron County, which has an estimated 19 households out of a total of 3,016 that may see a tax increase if the cuts are not extended.
Marathon County has the most amount of households - an estimated 1,081 out of 52,708 - that could potentially see a tax increase if the cuts for wealthier Americans expire.
Some of those households will even see tax cuts if they make less than $250,000.
Mike Lamarre says a tax cut would help ease the burden of having to pay high gas prices.
"It would help us quite a bit. We spend $500 every month on fuel just for getting back and forth to work."
And for Teri Haenel, the continuation of tax cuts means she would have money to visit her children and grandchildren in Racine and Kentucky.
"Going down there you're talking $200 in gas...I have pets - I have to put them in kennels, so it's expensive even to go to Racine."
Lamarre adds, "I think everybody should pay their fair share. You make more, you should be paying more in."
But not everyone agrees with the President's support for ending tax cuts for the wealthy.
Kevin Moses believes tax cuts should be extended for all Americans.
"The people that offer jobs are the ones that have more money. Nobody's ever gotten a job from a poor person."
Some Democrats in Washington would like to extend the Bush tax cuts for people making less than $1 million. Republicans want to see the tax cuts extended for all Americans.
|Story By: Lauren Stephenson