Report: White House Considers Smaller Fiscal Cliff Deal

[hfojvt]

45. the tax brackets do NOT apply to everyone

median household income (again) is $50,000.

For over half the country the only tax brackets that apply are the 15% bracket. Which goes up to AGI of $65,100 and if you include the standard deduction and exemptions for a family of four, that goes up to $91,500. And if a family maximizes their IRA deductions they can have income of $101,500 and still only pay at the 15% rate.

Thus the rates over 15% which Obama is determined to cut - only impact the richest 20% - those with incomes over $100,000.

The HAVES if not the have mores.

But whether Obama settles at the $250,000 limit or the $400,000 limit, which he also proposed, those who have more, GET more of the benefits as that limit goes up.

Even the $250,000 limit gives about the same in benefits to the top 1% as it does to the bottom 40%.

That's not nonsense. It is just the facts.

Facts that most people don't know or admit, but still facts.

It doesn't have to be that way, and a progrssive worthy of the name would be fighting for something better.