The Truth about Extending the Bush Tax Cuts

To hear the media report it, President Obama is proposing a tax increase on wealthy Americans. That’s misleading at best. He’s proposing that everyone receive a continuation of the Bush tax cuts on the first $250,000 of their incomes. Any dollars they earn in excess of $250,000 will be taxed at the old Clinton-era rates.

Get it? Everyone is treated exactly the same. Everyone gets a one-year extension of the Bush tax cut on the first $250,000 of income. No “class warfare.”

so writes Robert Reich; you can read the remainder of his piece here:  Bush tax cuts extended--what it means

sometimes, not always, facts come in handy when discussing political matters w/ your Uncle Charlie or those who were going to go to Canada when the Affordable Care Act was upheld . . .

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more from Robert Reich--here is his short video re progressives vs regressives
(worth watching and then passing on)

btw, who is Robert Reich?--from his blog:

ROBERT B. REICH, Chancellor’s Professor of Public Policy at the University of California at Berkeley, was Secretary of Labor in the Clinton administration. Time Magazine named him one of the ten most effective cabinet secretaries of the last century. He has written thirteen books, including the best sellers “Aftershock" and “The Work of Nations." His latest is an e-book, “Beyond Outrage.” He is also a founding editor of the American Prospect magazine and chairman of Common Cause.

While Clinton probably gets too much credit for the good economy of the '90s and Poppy Bush not enough credit for helping to pave the way, Reich was part of that vigorous and vibrant economy. Today, not many are as passionate and as knowledgeable about macroeconomics as he is; regardless of your politics, he's someone worth listening to.