A long time ago President Bush lowered the marginal federal tax rate. However, he was only able to do it through reconciliation. This meant, of course, that they were not permanent; they would have to expire. Since then we’ve been engaged in class warfare as the Left screams to reset the rate for the richest 1%. As Republicans work to prevent the tax increase, all the rage from the Democrats was that this wasn’t a tax hike, it was simply allowing the tax to go back to where it previously was.
Now, in an admittedly bizarre twist of fate, we have the Democrats bemoaning the fact if the the House doesn’t pass the most recent tax bill, it would be a tax hike on the middle class:
“The bipartisan compromise passed in the Senate yesterday received 89 votes, including 39 Republican votes, and Speaker Boehner himself just yesterday called it a ‘good deal’ and a ‘victory,’ ” the White House communications director, Dan Pfeiffer, said in a statement.
“If House Republicans refuse to pass this bipartisan bill to extend the payroll tax cut,” Mr. Pfeiffer said, “there will be a significant tax increase on 160 million hard-working Americans in 13 days that would damage the economy and job growth.”
As I mentioned, this is bizarro world and I happen to agree with the Democrats. If the bill fails and the payroll taxes are reset, it would represent a tax hike on America.
I’m just glad that the Democrats finally agree with me.