Democrats have told so many lies about taxes and the fiscal cliff that they apparently felt compelled to extend, but not further reduce, the Bush tax cuts on incomes below $400,000.
After ten years of claiming that the Bush tax cuts were only for the rich (a lie), that they caused the deficit crisis (a lie), and that the Clinton tax rates were wonderful (fiction), why didn’t President Obama and other Democrats just let the Bust tax cuts expire and revert to the Clinton era tax rates?
The answer is that reverting to the Clinton era tax rates would significantly raise taxes on every middle and lower income person and shift the total tax burden from higher income people (under the Bush tax rates) to middle and lower income people (where it was with Clinton’s tax rates).
Paying significantly higher taxes would alert every middle and lower income person to fact that Democrats have been lying about the Bush tax cuts for ten years.
However, extension of the modified Bush tax cuts means that every tax increase felt by any American earning less than $400,000 has been caused exclusively by President Obama and the Democrats.
Most working Americans will have a lower net income in January than in December because of President Obama and Democrat Senators and Congressmen. And, these tax increases are just the beginning of the pain, more is coming, caused by Democrats to reward their special interest groups.