The headline on an AP story yesterday blares: Obama budget would impose host of tax increases. The stories initial paragraphs outline the scenario:
The budget proposal released Monday would extend Obama’s signature Making Work Pay tax credit — $400 for individuals, $800 for a couple filing jointly — through 2011. But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.
…In all, Obama would increase taxes on some businesses and wealthy individuals by a total of about $1.4 trillion over the next decade, while cutting taxes for middle-class workers and other businesses by about $330 billion. The bottom line: Tax receipts would increase by about $1.1 trillion over the next decade.
I wonder if the Dems are smart enough to repeat this mantra:
We are following the intent of the 2001 and 2003 tax cuts, which were designed by George Bush and the Republican majority in Congress to expire next year. We are simply following their wishes, except that we are extending the tax cuts for middle income Americans.
Oh, and by the way, these tax cuts were passed through a budget reconciliation process that Republicans are now decrying as undemocratic.
Dems, repeat and repeat and repeat.