Will All Bush Tax Cuts Be Extended?

US Capitol Building

Debate has been heating up over tax cuts enacted by former President Bush, which are set to expire at the end of the year. President Obama has indicated that he will extend the cuts for middle class Americans, but not for the country's wealthiest.

Many people believe America can't afford to extend the tax cuts across the board, while many others feel that extending the tax cuts for everyone is essential for economic growth. We asked the Kudlow Caucus to predict the outcome. But what do you think?

Will all the Bush tax cuts (including for the wealthy) be extended?

The Kudlow Caucus Breakdown

	No Jerry BowyerEconomist, CNBC Contributor Because the wealthy have a lower marginal propensity to spend and a higher marginal propensity to save and invest, and we can't have that now can we?.
No Andrew B. BuschGlobal Currency and Public Policy Strategist BMO Capital Markets Not by the current Congress. They will allow them to roll off as this is the election year strategy to appear like something is being done on the deficit while attempting to seem tough on “wealth” or high end earners. It’s a mistake.. No Kellyanne ConwayCEO and President the polling company™ And a double dip recession will inch closer to reality. No David P. GoldmanSenior Editor First Things The lame duck Democratic Congress will toss a parting bomb at the U.S. economy using class warfare rhetoric. Yes Jim LaCampPortfolio Manager, Portfolio Focus, RBC Wealth Management Co-Host, Opening Bell Radio Show, Biz Radio Network The administration has lost much of its cachet as their polls continue to plummet. The elections are looming, and many Dems are now wavering on this issue. No Art LafferFmr. Reagan Economic Advisor Chief Investment Officer, Laffer Investments There are simply not enough votes willing to go so strongly against the administration. No Donald L. Luskin Chief Investment Officer, Trend Macrolytics LLC But I wish there was a “maybe” option, because it is certainly possible. It was impossible three weeks ago, but now it’s on the table. The Senate Democrats who have come out in favor of total extension have exactly the right message. We’d be crazy to raise taxes on ANYBODY in this economy. Small business operators – the majority of households who report more than $250k/year – are the job creators in this country. Lower their taxes, and that makes them more willing to hire. It’s all about jobs, right? No Steve MooreSr. Economics Writer, The Wall Street Journal Editorial Board Class warfare will triumph over jobs and growth and economic common sense. No Peter Navarro Business Professor University of California, Irvine There’s two reasons. One, it’s too sensible. Two, the consensus among the left wing of Congress is not sufficient to allow it. Some Democrats in marginal districts will support it just so they can say they did on the campaign trail, but it’s hypocrisy. No James Pethokoukis Money & Politics Columnist Reuters I think Congress will not come to an agreement in 2010. Then the GOP will revisit the issue in early 2011 when they have greater numbers. No Robert Reich Former Labor Secretary Professor of Public Policy, UC Berkeley Unfortunately, no. There won’t be enough votes either to extend for all, or extend for the 98 percent of filers with incomes under $250K. No Mark Walsh Political Strategist and Campaign Innovator Everyone, including conservatives, will realize and admit the deficit impact of extending a program that was designed to expire. However, lower and middle class income tax cuts will be allowed to continue.