The White House is promoting the extension of the Bush Tax Cuts for the middle class (which should really be called the Obama-Bush Tax cuts, since Obama extended them in 2010) as exactly that, tax cuts. But the truth is, an extension of the tax cuts wouldn't be a cut at all, but would keep tax rates at the current rate. The Obama admnistration is implying on the official WhiteHouse.gov website that a tax cut is coming for the middle class when in reality if a deal is made by January 1, middle class families won't see a tax cut but will keep the rates they currently pay.
The President said there's one thing we can do right now to provide a foundation for a solution that helps the economy and gives middle-class families more certainty in the coming weeks. And it's something that everyone agrees on: pass a law that would prevent any tax hike whatsoever on the first $250,000 of everybody’s income.
"That means every American, including the wealthiest Americans, get a tax cut," he said. "It means that 98 percent of all Americans, and 97 percent of all small businesses won’t see their taxes go up a single dime."
President Obama isn't giving a tax cut to anyone, but instead wants tax hikes for those making more than $250,000 per year.
|Katie Pavlich is the News Editor at Townhall.com. Follow her on Twitter @katiepavlich. She is also the author of Fast and Furious: Barack Obama's Bloodiest Scandal and the Shameless Cover-Up.
“ABSOLUTELY DEVASTATING! Intrepid investigative journalist Katie Pavlich rips the lid off Team Obama’s murderous corruption and anti-Second Amendment zealotry" says Michelle Malkin.
"Katie Pavlich draws back the curtain on a radical administration that put Mexican and American lives at risk for no discernible reason other than to advance an ideological agenda." - David Limbaugh
Buy Katie's book today and help us keep the pressure on Obama and his attorney general Eric Holder and expose the cover-up.
BREAKING: Senate Judiciary Committee Approves Gang of Eight Immigration Reform Bill | Daniel Doherty
Whoa: US Hasn't Detained Five Benghazi Terrorists Due to Trial-Related Evidentiary Concerns | Guy Benson
Baucus & Hatch Grill IRS Commissioners Who Don't Know Anything: "That's A Lie By Omission" | Greg Hengler