(2 pm. – promoted by ek hornbeck)
Weird Turn On Fiscal Cliff: GOP Plan Would Hike Taxes On Working Class So High-Income People Can Pay Less
Somehow, the fiscal cliff tax debate has taken a truly strange turn. No, not the politics, which long ago became a parody of Washington deal-making at its worst. It is the policy that has gotten strange: Democrats and Republicans seem hell-bent on protecting millions of high-income people from deficit-cutting tax hikes.
What strange turn? Does Forbes not know that both Obama and the Republicans want to protect the amorphous middle class?
However you come down on this, it is fair to say that when it comes to taxes working class families may well end up worse off next year than they are today. So may millionaires. But households making between $200,000 and $1million may be largely protected from tax hikes. Does that really sound like a sensible and fair way to cut the deficit?
There is a real bite in that middle class palaver introduced by the Clintons and the DLC. You may want to pray to God, if you know of any, that granny’s demise from falling off the cliff isn’t hastened by another famous Obama deal.