The setting: White House Rose Garden.
The Actors: President Obama, Madam Speaker Pelosi, Senate Majority Leader Reid, the White House press corps (minus Faux News).
The statement after the jump.
President Obama: Thank you for coming today. Today I’m happy to say that the Bush tax cuts are going to expire. That vote was taken ten years ago and ten years have passed. I’m joined by the Majority leader and Madam Speaker to tell you about the Obama tax cut plan of 2011. It will set the tax rates for individuals making less than $200,000 and families making less than $250,000 at the levels set by my stimulus plan. It will not change the tax rates for individuals and families above the thresholds. I now have time for a few questions.
I really wish that we could change the conversation from extending the tax cuts to what the Obama tax plan of 2011 will look like. I had a conversation with my neighbor over the weekend that was confusing. He thought that his tax rates had gone up. I told him and then showed him that it wasn’t his federal tax rates. I also told my neighbor that I’m paying the lowest taxes of my entire life. If, and it’s a pretty big if, I make it into the 35 - 39% tax bracket it wouldn’t bother me to pay more taxes. My neighbor said that if the tax cut expire then his taxes are going up. I told him that if his taxes go up it’s because the Republican party is insisting that people making a lot more money than we are get disproportionate tax cuts. I don’t think I convinced him of anything, but I got him to thinking about what is really going on.
We are fighting a fight that shouldn’t have been started. We never should have discussed extending the Bush tax cuts. We should offer a progressive tax rate plan and let the rebulicans talk about class warfare and vote not to cut taxes.