Reuters retracts 'Backdoor Tax Increase' story. "is wrong and has been withdrawn".
Reuters Retracts bogus story that claimed 'backdoor tax increase'
Reuters Retracts bogus story that claimed 'backdoor tax increase'
The story, written by Terri Cullen, claims that allowing the Bush tax cuts to expire will hurt the middle class. Cullen was hired as Reuters' wealth management editor this month. She had worked for the Wall Street Journal Online for 13 years.
Michael Linden, the associate director for tax and budget policy at the Center for American Progress, agrees with the White House that the story was misleading.
"The president's budget keeps almost all of these [tax cuts], and no one under $250,000 is going to be facing a tax increase," Linden said, "and to present any other picture is just misleading and wrong."
Late update: Reuters will not run a replacement story:
"The Feb 1 story headlined "Backdoor taxes to hit middle class" is wrong and has been withdrawn. The Obama administration's budget calls for the extension of those tax provisions for households earning less than $250,000."