OBAMA ADVISER SAYS PRESIDENT WILL NOT EXTEND BUSH TAX CUTS, EVEN TEMPORARILY: ’100% COMMITTED’

[hfojvt]

46. one trouble is that the Obama plan

is almost as bad as a full extension.

Obama's plan to extend them for incomes less than $250,000 gives 26.5% of the benefits to the richest 5%. That costs about $80 billion a year just for tax cuts to the top 5%. Which is close to a trillion dollars over ten years.

I was willing to accept that in 2008, while still hoping for more, but at this point that no longer seems acceptable.

Nor does it seem acceptable that that is the point where we are making our stand. That our original bargaining position is to extend 80% of the Bush tax cuts.

I would feel better if he/we were fighting to end the Bush tax cuts for incomes over $50,000, even though I, myself, am hoping to make over $50,000 in 2014. It is just kind of absurd that a total defeat for the Republicans would mean that 80% of the Bush tax cuts get extended including over $40 billion a year to the top 1%.