Saturday, December 04, 2010

Really?

I guess that's the lesson to be learned. The Republicans are in favor of a tax increase for 100% of American earners.

Or, to be clear, they want to make sure your taxes go up unless they can cut taxes for the millionaires and billionaires.

The Senate on Saturday rejected President Obama’s proposal to end the Bush-era tax breaks on income above $250,000 for couples and $200,000 for individuals, a triumph for Republicans who have long called for continuing the income tax cuts for everyone.

Like most media outlets the Times has it wrong. The bill that the Republicans rejected would have extended the tax cuts for EVERYBODY. All earnings up to roughly $250,000 would be subject to the tax cut. Even if you are Bill Gates, Warren Buffett, or the Wal-Mart heirs, you would have gotten a tax cut on your first quarter of a million.

How can the Republicans defend the indefensible?

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