Here is the choice that Congress has, as we approach the “fiscal cliff” next Tuesday, when all of the Bush tax cuts expire. Democrats are willing to renew the tax cuts except for those making over $250,000. The Republicans want to renew the tax cuts for everyone, including those who make over $250,000.
So either everyone’s taxes will remain at the lower rate except for “the rich.” OR, if nothing can get passed, everyone‘s taxes will go up, including those of “the rich.”
Anti-tax Republicans are opposing Obama’s plan to let taxes go up for “the rich” EVEN THOUGH if their efforts to block the proposals are successful, taxes will go up for EVERYONE, including “the rich.” Thus, anti-tax Republicans will be responsible for everyone’s taxes going up.
I know the principles, the ideals, etc., but can anyone explain what good it will do for Republicans to oppose tax increases for the rich when that will mean tax increases for everyone?
Ad-Free & Subscriber Log-In