Yesterday, the New York Times reported on a Joint Committee on Taxation study of “President Obama’s proposal to let the Bush tax cuts expire for the wealthy but to extend them for everyone else.”
The study found that “taxpayers with income of more than $1 million for 2011 would still receive on average a tax cut of about $6,300” from those in effect during the Clinton Administration, while those “with taxable income of $500,000 to $1 million would still get on average a tax cut of $6,700.”
You would think that rolling the Bush tax cuts back to these levels would be universally accepted—especially given the long term fiscal challenges our country is facing.
Not so fast…
Fonte: White House