Bush tax cuts (cont’d)

I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle-class Americans who most need tax relief.
– John McCain, May 2001

Obama wants to let the Bush tax cuts on the wealthiest expire at the end of the year, while extending the cuts for the middle-class. Of course, the GOP labels what the Democrats want to do as “the largest tax cut in history”. Given that the after-tax income of the top 1% has gone up 281% over the past 30 years, I think they can afford it.


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