President Barack Obama and congressional Democrats acquiesced in December to Republican demands that the Bush-era tax cuts be extended for everyone. But now the Democrats in Congress are following the lead of Obama, seeking to end the tax cuts for families with annual income of more than $250,000,
The Hill reports.
The tax cuts are set to expire at the end of next year, and Democrats are trying to make themselves out as the champions of the poor while portraying Republicans as simply defenders of the rich.
In words typical of the tactic, Rep. Jim Clyburn of South Carolina, the No. 3 House Democrat, said, “While Republicans are gutting Medicare and Medicaid with one hand, they are handing out tax subsidies for big oil companies and making tax cuts for wealthy permanent with the other hand.”
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