I’m betting almost the entire WaPo op-ed page is going to stage a synchronized fainting session tomorrow:
Fresh from raising taxes on upper-income Americans to help expand health insurance coverage, President Obama and Democratic lawmakers are targeting them again.
When Congress takes up Obama’s proposed $3.8 trillion budget this year, it will include extending President George W. Bush’s tax cuts for middle-income families enacted in 2001 and 2003. Tax cuts for individuals with income above $200,000 and couples above $250,000 would be eliminated.
The effective tax increase on the upper income would yield about $41 billion next year and $969 billion over the next decade, according to the Treasury Department. The White House says that would help reduce the $1.5 trillion budget deficit.
The horror of it all.