Although this isn't specifically an eco-finance issue, it is a finance issue that is of extreme interest to millions of Americans, including me: the middle class tax cuts. The middle class tax cuts are part of the Bush tax cuts as they were instituted during the former president's term.

However, they are the subject of much partisan debate as the tax cuts are scheduled to expire at the end of this year. With the midterm elections on the horizon, Americans are left wondering what is going to happen to the tax cuts and how much smaller their first paycheck in 2011 will be if the tax cuts expire.

This quick two-minute video Austan Goolsbee, chair of the White House Council of Economic Advisers (CEA), uses visuals to help explain the existing tax cuts as well as the proposed tax cuts.

Photo: Tracy O/Flickr

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