Skip to main content

View Diary: Obama: Extend middle-class tax cuts, forget borrowing for the rich (414 comments)

Comment Preferences

  •  Also a problem with the $250,000 figure (0+ / 0-)

    The President said "That’s why I believe we should permanently extend the Bush tax cuts for all families making less than $250,000 a year. That’s 98 percent of the American people."  But that's not really his position.  He would permanently extend tax cuts for all families, regardless of income -- even families over $250,000 would be better off than current law.  The only place he's saying he would not permanently extend tax cuts are for cuts that apply only to incomes in excess of $250,000.  

    It's important to understand that we're not talking about denying equal treatment to the rich -- indeed, those at $250,000 or above will likely get the maximum benefit of most of these tax cuts.  But rather than permanently giving these high income families a tax cut that would actually exceed the total annual income of many middle class households, they'd just get as much as the people whose income is a mere $249,999.99.  

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site