Tuesday, June 28, 2011

Phew!

If you were worried that the Obama administration might insist that any deal to raise the nation's $14.3 trillion debt ceiling by Aug. 2 would include an end to former President George W. Bush's controversial tax rates on the wealthy, don't worry! IT WON'T!
The White House, seeking an agreement to raise the nation's $14.3 trillion debt ceiling by Aug. 2, on Monday said it would not insist that any deal include an end to former President George W. Bush's controversial tax rates on the wealthy.
See?
The White House said the president is pushing the GOP to agree to eliminate some tax breaks for businesses and loopholes for wealthier taxpayers, but is not seeking to eliminate the across-the-board rates introduced by President Bush. That means taxpayers who earn more than $250,000 annually have gotten a reprieve.
It's about time that taxpayers who earn more than $250,000 annually get a reprieve from the unrelenting threat of having to pay slightly more taxes during an economic crisis caused by deregulation of businesses they disproportionately run while the nation is at five wars they disproportionately support!

The entire middle class is a small price to pay for a modern Gilded Age.