Econ 2202
 – 
Research 
Assignment #2
  
(10
0 points total)
 
 
OPTION 1: 
E
xtend
ing
 the tax cuts or not?
 
One of the most
 controversial political issues currently is 
the budget and
whether or not the tax cuts enacted in 2001 and 200
3 should continue to be extended.  Just last December, as they were set to expire, Congress passed legislation extending these tax cuts again until 2012
.  Some 
feel that these tax cuts s
hould be extended for everyone, including the high-income earners
.  Some feel that the tax cuts s
hould be extended, but only for the lower and middle-income earners
.  Some even feel that 
Congress
 should
let the tax cuts expire for everyone
.  This assignment will have you explore this controversy in greater detail, conduct some further research, and come to your own conclusions about what should be done.
  
 
Primary Sources/Background information.
  Please read the two reports: titled “Extending Tax Cuts” and “Extending Tax Cuts Follow-Up” published by 
Facts on File: Issues and Controversies
and issued on October 18, 2010 and December 15, 2010.  You can find these reports in the ‘Issues and Controversies’ database via the COD library website.  (Go to the COD library website at
http://www.cod.edu/library/
 , click on 
D
atabases
, then click on
Current Events
, then scroll down and click on 
Issues and Controversies
.  In the search box, please type in 
Extending Tax Cuts.  
You should then see the links to these two reports
.
  
NOTE:  You must have a valid College of DuPage 
library card
 to access the electronic indexes and databases from off-campus.
  
 
FYI, for additional background information, facts, and figures, an excellent, non-partisan website is the Tax Policy Center.  You can link directly to analysis of this issue by using the following link:  
http://www.taxpolicycenter.o
r
g/taxto
p
ics/Expiration_Bush_Tax_Cuts.cfm
  and
http://www.taxpolicycenter.org/taxtopics/Compromise_Agreement_Taxes.cfm
 
What to include in your write-up of this assignment:
1.
(5pts) 
Why did you pick option 1 for this assignment?  Also, please discuss (
in 
approximately 100 words) any knowledge you had (or did not have) about this issue prior to taking this class.  
 
2.
(45
pts) 
P
lease 
summarize
 
the 
information you have learned
 
in 
3-4
paragraphs
 (approximately 
300 words)
.  Focus on the 
debate surrounding extending the tax cuts, the impact of extending and not extending them, the impact on the budget, 
and other issues that may
affect lawmakers
’
 decisions on this issue
.  
You must write this summary in your own words.  Do not copy and paste from the
website
.
 
3.
(45
pts) 
Secondary Sources: Further research.  
To expand your knowledge,
 
f
ind 
two
 articles related to this 
debate
 
u
sing the COD library 
databases
 (ex: Academic OneFile, the Wall Street Journal, etc.)
.  
Find one article in favor of extending tax cuts for everyone, including the wealthy and then find one article in favor of extending the tax cuts for everyone, except the wealthy.  
Write 3-4
 paragraphs
(300 words)
 summarizing both articles and also which side of the argument you support.  
Be sure to e
valuate the articles you found for objectivity and bias.
 
4.
(5pts)  MLA Citations:  
Make sure to include proper citations (MLA format) of the two articles you selected.  See the library website
http://www.cod.edu/library/research/citenet.htm
 for examples.