I'm for a Tax Cut for All

[louis c]

That's the Democratic plan.

Let the tax cuts for all Americans who earn $250,000 and less remain on a continuing (if not permanent) basis, and let those tax cuts for those individuals making above $250,000 expire. Thus, everyone gets a tax cut on their first $250,000.

If someone is making $500,000, that's an increase of 3% on the second $250,000, not on the whole thing. That amounts to about $7,500 on a half million. By the way, that's not an increase, just the removal of a 10 year tax cut for earnings above $250,000. They get to keep the tax cut, just like everyone else, on everything earned below $250,000.

When arguing our position, we have to drive home that every American keeps the tax cut on his or her first $250,000, regardless of how much above that they make.

The Democratic plan is still a tax cut for all.

[rfranklin]

1. That already is the plan...

There is a graphic that's been posted which show that everyone gets a tax break under the Democratic plan. But instead of getting tens of thousands, the 250K people get about $6500.

What most people don't realize is that those top earners only get taxed more on the amount of income above $250,000 and only at about 3% more than under the "Bush tax breaks."

[LiberalFighter]

2. I guess there needs to be a better way to explain the tax system

I remember one of our benefits persons trying to tell me that if my marginal tax rate was at the top rate that all of my taxable income would be taxed at the top rate. He didn't have a clue.

[Loge23]

3. The other great canard..

is that letting a Republican written tax break expire as planned constitutes a "tax increase".
It does not.