During the president’s recent press conference, he stated that his mandate is to provide for the middle class. In order to do that, he said he must not allow a huge tax increase on them. In essence he demands that the Bush tax cut (Bushtaxcutsfortherich, a mantra that the Democrats and the media have drummed into our ears for the past decade) be extended for everyone making below $250,000 a year but allowed to lapse above that level, which he describes as a “small increase for the wealthiest Americans.”
It’s only one law that will expire, so which is it? The big tax cut went to the middle class, not the rich. So now, it is a small tax increase on the rich to avoid a big tax increase for the middle class. He dare not allow the entire law to lapse and expose the Bushtaxcutsfortherich mantra to be a lie.
The president says it is only arithmetic, but I wonder where he learned his.