Hoyer expects House to let tax cuts expire on incomes over $250K

By GottaLaff

Undoing BushCo is not unlike undoing that pesky button after Thanksgiving dinner. You can breathe again:

The House is unlikely to extend President George W. Bush’s cuts for taxpayers earning more than $250,000, Majority Leader Steny Hoyer (D-Md.) said Wednesday.

Hoyer said tax cuts for those making under $250,000 were likely to be extended.

“I think we will continue the middle-class [tax cuts] but the brackets above $250,000 will not be continued,” Hoyer said.

Now all we'll hear about is the political risk, hand wringing, vicious attacks, lies about "raising" taxes (as opposed to restoring them to pre-BushCo rates), a doomed Obama, and the demise of the Democratic party.

How about the equity of such a move? How about reviving the middle class and-- What's it called again? Oh yeah-- democracy.

Or wasn't giving big fat money-laden corporations power over our elections enough?

Wealthy group pushes to be taxed more

Wha? Whoa, wonder when we'll hear about this on Fox?

Upper-income earners who actually want to pay higher taxes have launched a public campaign calling for an immediate rollback of the tax cuts enacted under President George W. Bush.

The group, which calls itself Wealth for the Common Good, believes that people who have taxable income of more than $235,000 a year should support restoring their top federal income tax rate to 39.6 percent from 35 percent - and now, not in 2011, when the higher rate is scheduled to return anyway.

From their Web site:

"Our country is facing the worst economic challenge since the Great Depression and an urgent need to make a long overdue investment in bringing jobs and stability back to our communities. This investment should be paid for, in part, by repealing the Bush-era tax cuts our country cannot afford.

"Those of us with taxable incomes over $235,000 benefited from the upside of the economy during the last decade and profited for eight years from a 2001 tax cut. Now is the time to give back.