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View Diary: Obama Wants To Cut Taxes For The Rich. (127 comments)

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  •  No (5+ / 0-)

    because if the current tax law expires, the law reverts to the one in effect in 1998 (or 1999, or 2000).  And that law has the tax table shown.

    Obama's proposal is to revert the law back to the 1998 tables for income over $250,000, but to leave the current table in place for income less than $250,000.

    So the comparison is completely appropriate, and in fact is the only comparison that makes sense, because that is what would happen if nothing changes -- everything reverts back to 1998 levels.

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