The day wasn’t even over on Monday when the Kentucky conservative, Mitch McConnell, vowed no compromise on the Bush-era tax cuts, and today introducing his own legislation that protects the millionaires. At least we will still see cuts for the sorely needed middle-class. The Dunning Letter had reported yesterday that Rep. John Boehner’s compromise was pure politics, which obviously it was.
This is a tough one since some respected economists say to raise taxes on the wealthy now would be a hit to the economy, especially when it affects small business owners. This makes sense, so perhaps the income levels of $200,000 and $250,000 have been set wrong? They can’t afford it but the million and billion dollar babies can. Survey the incomes of small business owners and establish new guidelines. Sounds simple to TDL.