Gotta hand it to the architects of those Republican rhetorical ruse-rants. Their mastery of dysphemism and Euphemism raises it to an art form. “Raising the taxes of the wealthy”, is just a typical distortion of fact, no different than politicizing the women’s credo, “Pro Choice” as “Pro Abortion”. If one man is the master of the form in the 21st century, it’s Frank Luntz. Luntz is the Republican Party’s word wizard, responsible for such classic phrases as “war on terror,” “death tax,” “energy exploration,” “climate change” and “healthy-forests initiative” - formerly referred to as perpetual war, estate tax, oil-drilling, global warming, etc.
What is really happening with taxes is that we are allowing the tax breaks for the wealthy to return to the level they were during the Clinton administration. He had inherited President Reagan’s trickle down fiasco together with his tax cuts for the wealthy. The Clinton administration then proceeded to become the most economically successful administration in our country’s history. The Bush administration reinstated the Reagan tax cut for the wealthy and oversaw arguably, the worst economic disaster in our country’s history. Let us hope that Obama’s administration is a redux of Clinton’s.
In short, when Bush’s reinstatement expires the irresponsible tax breaks for high-income Americans expire and we will return to the income tax rates for upper-income Americans that we had in the 1990s, rates that were consistent with a balanced budget and economic growth for middle-class Americans, who haven’t seen their paychecks increase. Let’s keep the middle-class tax cuts and reform the alternative minimum tax in order to give middle-class Americans the tax relief they deserve to have.