Econ 2202ResearchAssignment #2(100 points total)OPTION 1:Extending the tax cuts

Econ 2202ResearchAssignment #2(100 points total)OPTION 1:Extending the tax cuts or not?One of the most controversial political issues currently isthe budget andwhether or not the tax cuts enacted in 2001 and 2003 should continue to be extended. Just last December as they were set to expire Congress passed legislation extending these tax cuts again until 2012. Somefeel that these tax cuts should be extended for everyone including the high-income earners. Some feel that the tax cuts should be extended but only for the lower and middle-income earners. Some even feel thatCongress shouldlet 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 byFacts on File: Issues and Controversiesand 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 athttp://www.cod.edu/library/ click onDatabases then click onCurrent Events then scroll down and click onIssues and Controversies. In the search box please type inExtending Tax Cuts. You should then see the links to these two reports.NOTE: You must have a valid College of DuPagelibrary 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.org/taxtopics/Expiration_Bush_Tax_Cuts.cfm andhttp://www.taxpolicycenter.org/taxtopics/Compromise_Agreement_Taxes.cfmWhat to include in your write-up of this assignment:1.(5pts)Why did you pick option 1 for this assignment? Also please discuss (inapproximately 100 words) any knowledge you had (or did not have) about this issue prior to taking this class.
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(45pts)Pleasesummarizetheinformation you have learnedin3-4paragraphs (approximately300 words). Focus on thedebate surrounding extending the tax cuts the impact of extending and not extending them the impact on the budgetand other issues that mayaffect lawmakers decisions on this issue. You must write this summary in your own words. Do not copy and paste from thewebsite.
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(45pts)Secondary Sources: Further research. To expand your knowledgefindtwo articles related to thisdebateusing the COD librarydatabases (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 evaluate the articles you found for objectivity and bias.
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(5pts) MLA Citations: Make sure to include proper citations (MLA format) of the two articles you selected. See the library websitehttp://www.cod.edu/library/research/citenet.htm for examples.