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Is this actually true? Obama couldn't get support to rollback tax cuts on the rich - is he really going to be able to increase them now? I believe Republican po
by georgefox 15y ago
Is this actually true? Obama couldn't get support to rollback tax cuts on the rich - is he really going to be able to increase them now? I believe Republican policy is to cut taxes on the rich (?)
Spot on. The Bush tax cuts have only temporarily been extended, and the Democrats have expressed interest in eventually eliminating them for the top bracket only. I assume this is what the article is referring to. We'll see if that actually happens anytime soon. The Republicans certainly aren't going to support it because, as you said, their positions generally involve further cutting income taxes, if anything. Here's a chart that compares a recent Republican proposal to the Bush tax cuts: http://www.offthechartsblog.org/pawlenty%E2%80%99s-high-end-tax-cuts-dwarf-even-those-of-president-bush/ http://www.offthechartsblog.org/pawlenty%E2%80%99s-high-end-...