The Bush tax cuts are set to expire on Jan. 1. Republicans want to extend them all, writes A. Barton Hinkle.
President Obama is willing to extend the Bush tax cuts, too—but only for those making $250,000 or less. But hey, guess what? It turns out doing this will, in the President’s own words, keep taxes lower for a whopping 98 percent of the American people.
The White House has even produced a convenient infographic on “Extending Middle-Class Tax Cuts” to make that point. The president, it says, “has called on Congress to act now to extend middle-class tax cuts and to not hold our economy and the middle class hostage.”