Today we continue our series on what Obama should do next, particularly with the budget.

Of course, a big part of the budget is taxes. Here is an interesting fact: in 2011, the Bush tax cuts from 2001 will expire. That means that marginal tax rates will increase, capital gains tax rates will increase and dividends tax rates will increase. In other words, a huge tax increase is coming.

But Obama could change that. He could call for extending the Bush tax cuts, or better yet, making the tax cuts permanent. At a time of great economic challenge, we need lower taxes now more than ever.