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‘The Obama Tax Cuts’?



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There’s an effort underway amongst Democrats to re-brand the Bush tax cuts (except for those that apply to the top two brackets) as “the Obama tax cuts“:

At her weekly press conference this afternoon, House Speaker Nancy Pelosi predicted that Bush tax cuts on the first $250,000 of income will be extended. But she was unable, or unwilling to say whether the top-bracket tax cuts benefiting only the wealthy will be renewed.

“Without getting into procedure and timing and process, what we’re going to do is to say: At the end of the day the extension of the Obama middle-income tax cuts will take place,” Pelosi said. [emph. added]

Josh Marshall, proprietor of the site where this report appeared, eagerly adopted Pelosi’s terminology. This is A) pure propaganda, and B) just silly. Under the “Obama tax cut plan,” your tax rates would either stay the same as they were before or go up, depending on your income. There is no disagreement about that underlying fact. The expiration dates that apply to the Bush tax cuts were built into the legislation for procedural reasons; in reality, that’s left us with a choice between keeping tax rates constant or raising all of them or raising some of them. People who pay income taxes are not going to confuse the procedure with the reality any more than they would confuse Nancy Pelosi with the Queen of England if that’s what she started calling herself. There are no “Obama tax cuts,” Marshall’s bogus rhetoric to the contrary notwithstanding. 



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