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Re: Obamas tax plan, slams all Americans, not just the wealthy
And yet every time I see the Democrats talk about letting the Bush tax cuts expire, they always add "for upper income taxpayers".
Half of the tax savings of the Bush tax cuts went to 1% of the taxpayers, the "bottom 99%" got the other half.
My guess is that Democrats will pass a package that includes tax cuts for the middle class that are slightly more than the expiring Bush tax cuts, and allow the tax cuts to expire.
2010 is an election year, and I believe that the vast majority of the voters will receive a tax cut in 2010.
If you have a problem with letting the tax cuts expire, take it up with the republican congress that wrote the law and the president who signed it. The reason they did that BTW, was so they could point to a shrinking deficit in 10 years, as without the tax cuts expiring, the country will rack up enormous deficits forever.
It was just a small concession to reality................
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“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”
Adam Smith , The Wealth of Nations 1776
"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address
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