Are the proposed tax cuts for those making less than $250,000.00

[Ozymanithrax]

a year permanent?

Just wondering.

[Tansy_Gold]

1. No. n/t

[Ozymanithrax]

3. Thanks

[NewJeffCT]

2. It's not a tax cut for those making under $250,000

it's a tax cut for everybody on the first $250,000 of their income. If you make more than that, you pay the old rate on the additional amount.

[Ozymanithrax]

4. Thanks for the correction. n/t

[emulatorloo]

5. Also it is a two year extension to middle class cuts

(basically all Bush Cuts)

A good explanation of the deal from Ezra Klein. Good political reporter, He is semi-positive about it. Even if you hate it it is a good description of what it is.

Posted at 6:14 PM ET, 12/ 6/2010
An imperfect, but not-that-bad, deal on the tax cuts
By Ezra Klein

http://voices.washingtonpost.com/ezra-klein/2010/12/an_imperfect_but_not-that-bad.html

[NewJeffCT]

7. Unfortunately, it was not sold that way

because it really was a tax cut for everybody, and Republics just wanted the cuts applied to all income levels, not just the first $250,000. So, they really held a tax cut for EVERYBODY hostage just so the top 2% could get more.

[DrDan]

6. the R's would never agree to that . . . without making the other permanant as well