Regardless of where you think "middle class" starts and ends, (and I'd argue that it's a bit lower then '$250,000 per year', <g>) it's still a fact that those tax cuts are EXTENDED (as I said), and *not* repealed.
And, taxes for those earning *over* $250,000 a year will still wind up being lower then they were during the Clinton years (when the federal deficit was whittled-down) and even for those earning over $250,000 per year their cap. gains tax rate will only move from 15% to 20% (also far lower then rate under Clinton, first Bush, Reagan, etc., etc.)
"...The budget would extend President George W. Bush's tax cuts — but only for households earning less than $250,000 — as well as Obama's tax credits of $400 for individuals and $800 for couples. They would add to the deficit, despite Obama's proposal that tax cuts and benefit increases should be paid for...."
usatoday.com
About time we started getting serious about the chronic annual federal deficits.... |
