Robert Reich: Extend the Bush Tax Cut to the Bottom 99%, But Not the Top 1%

[flpoljunkie]

(Comment in Parentheses mine.)

Extend the Bush Tax Cut to the Bottom 99 Percent, But Not The Top 1 Percent ('Cause that's where the money is!)

WEDNESDAY, NOVEMBER 3, 2010

Expect the President to be under more pressure to give in to Republican demands that the Bush tax cut be extended to everyone — not just the bottom 98 percent but also the the top 2 percent, earning over $250K.

He should respond by offering this olive branch: Extend the Bush tax cuts to the bottom 99 percent — to families earning less than half a million dollars.

But not to the top 1 percent.

The top 1 percent now gets almost a quarter of the nation’s total income — a larger share than at any time since the 1920s. The top 1 percent have also received about 40 percent of the benefits of the Bush tax cuts.

The “Not for the Top 1 Percent” olive branch will draw a clear line in the sand. If Republicans won’t accept the offer, let them threaten to raise everyone else’s taxes in order to get a sweet deal for their patrons at the very top.

http://robertreich.org/post/1471662081

[Bad Thoughts]

1. Stop Calling for the "Bush Tax Cuts"

I hate that phrase. If Obama wants to give the wealthy a break, he should write his own law up rather than just give past laws an extension. Maybe call them "the Obama Tax Breaks."

[denverbill]

3. I agree 100%. These are now the Obama tax cuts. Bush's law is expiring. It's done with.

[denverbill]

2. No. Why come to the table with your compromise offer.

Just say no. Force them to compromise or they won't.

You come to the table offering the top 99% they will just demand 100%.