Obama Wants to Extend "Middle Class" Tax Cuts

image of President Obama's teleprompter during his speech advocating extending the Bush tax cuts

That's what all the headlines say, like: "Obama renews call for holding down middle class tax rates." But a more honest headline would read: "Obama renews call for extending current tax rate for 98% of the country, including many people who well above and well below middle class, if the word 'middle' still has any meaning."

Wordy, but honest.

Here is some related reading:

Pat Garofalo: Why Letting the Bush Tax Cuts for the Rich Expire Will Not Hurt the Economy, in Three Graphs.

Steve Benen: Obama Pushes Middle-Class Tax Cut, Reignites Larger Fight.

And Richard Adams' typically great coverage is here.

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