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View Diary: Busy day for Republicans: protecting millionaires and screwing over the rest (80 comments)

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  •  Only if you raise taxes on everybody (1+ / 0-)
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    VClib

    Eliminating the Bush Tax Cuts on families over $250,000 raises only $700 billion over 10 years -  that's $70 billion a year.  S-B raises $80 billion a year.  You only get $300 billion a year if you eliminate the Bush Tax Cuts for families UNDER $250,000 as well.  Is that what you are proposing -- and what are the chances that happens?

    And why should a two-income family of $300,000 who now (due to the AMT) pays an effective federal income tax rate of 26 -  28% get their taxes INCREASED when people who make a lot more pay a far, far, far lower effective rate.  

    S-B proposed taxing cap gains as ordinary income, by the way.  Here's the detail.

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