By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.
Sentiment: POSITIVE
There will be a big tax cut for the middle class. But any tax cuts we have for the upper class will be offset by less deductions that will pay for it.
Today's tax cuts provide yet another illustration of the Republicans' fiscally irresponsible economic policies that ignore the needs of America's middle class, students, and working families.
It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011.
You know, you cut taxes for the rich sometimes and it sits in a bank account. You cut taxes for the middle class, they will spend the money.
The Democratic Party opposes tax cuts but it cannot say so publicly. Thus, it is forced to support the idea of lowering the tax burden but using class warfare rhetoric to dispute the allocation of the relief.
Even tax breaks that are supposed to help the middle class too often skew toward the wealthy. Consider the mortgage interest deduction. While political leaders in both parties have long considered it untouchable, it actually helps those at the top of the income scale far more than those at the bottom.
At the end of the day, Republican-driven tax reform is not only going to be good for the economy and for growth. It's going to be good for middle-class Americans.
Apparently there are some Democratic leaders in the Senate that are running for office who now believe in tax cuts.
I still believe a majority of Republicans are for income tax cuts.
Americans are falling out of the middle class, not into it. And they deserve relief. I absolute support extending the Bush tax cuts for those who work the hardest and invest the most in our economy - the real drivers of American growth, the middle class.
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