
Editor's note: Tune in Monday to American Morning at 6:00AM Eastern for a live interview with Paul LaMonica, editor-at-large for CNNMoney.com for a discussion on this article.
NEW YORK (CNNMoney.com) - With income tax rates set to go up on Dec. 31, Congress is hotly debating what to do next. But most economists agree: Keep them where they are.
One option, to let the tax cuts passed during the Bush administration expire for only the richest 3% of taxpayers while renewing them for everyone else, is popular among Democrats and the choice of the Obama administration.
But a panel of leading economists surveyed by CNNMoney.com disagreed.
Editor's Note: Sorkin’s best-seller “Too Big to Fail” just came out in paperback. He reports for the New York Times.
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/08/17/art.boehner.gi.jpg caption="House Minority Leader John Boehner delivers an economic address Tuesday."]
(CNN) – Vice President Joe Biden on Tuesday hit back hard–and sarcastically–at House Minority Leader John Boehner's call for President Obama to fire Treasury Secretary Timothy Geithner and other high-ranking economic officials.
"His chief proposal when you look at it apparently was that the president should fire his economic team," Biden said. "Very constructive advice and we thank the leader for that."
Biden echoed the Democratic message that aims to remind Americans that Republicans held power in the run-up to the recent economic downturn.
"Mr. Boehner is nostalgic for those good old days, but the American people are not," Biden said in reference to the Ohio Republican's call for a full extension of the Bush tax cuts.
Biden said Boehner has "created a myth" that extending tax cuts to the wealthiest Americans would stimulate the economy.
CNN’s Brianna Keiler reports on the battle over rebuilding America’s economy. Watch ![]()
Rough economic news sent stocks into the red for the year yesterday. Meanwhile, a new Wall Street Journal/NBC news poll shows nearly two-thirds of Americans believe the economy has yet to hit bottom. Editor-at-large of Fortune magazine, Shawn Tully spoke about the trend on CNN's American Morning Thursday.

