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Now with all the political grandstanding and delay that went along with this Fiscal Cliff jump. Repubs have once again unwittingly lost the words of words. As they tried to tag Pres Obama with the supposedly pejoritive term 'ObamaCare', the term that is now completely embraced by Pres Obama and Dems.
By jumping off the cliff Repubs have put an end to the Bush tax cuts, now Obama has another bragging right, ie claim to fame 'Obama Tax cuts'. The House voted 257 yes to 167 against the Obama tax cut.
Not only have Repugs given Obama 450k tax cut bragging rights, 151 Repubs went down as voting against a tax cut. As much as they were afraid of voting for a tax increase, they go down on record as voting against a tax cut. Not sure which campaign refrain is worse, or maybe it only matters what Grover thinks.
PS. 450K tax cut is much better deal for the middle class than a 250k. 250k always seemed to be arbitrary, too low and at the margins. 250k tax cut would easily have become outdated before people have a chance to grow beyond it. We need to look beyond the short term. There is little cushion at 250K, especially if your married with 2 kids and looking forward to paying two college tuitions.
RIP: The Bush Tax Cuts
Joe Weisenthal | Jan. 2, 2013, 7:54 AM | 7,092 | 26
Thanks to last night's Fiscal Cliff deal, we an now put to bed the term "The Bush Tax Cuts." As of now, they're the Obama Tax Cuts. It should be noted, that income taxes are lower for everyone today than they would have been if the American Taxpayer Relief Act hadn't gone into effect. While top marginal rates are rising for those making over $400K, those earners still get a cut on their income up to $400K.