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- May 7, 2010
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We can't cut middle class taxes without paying for it. That is the reason for raising the capital gains rate. To keep revenue the same. Do you think we should increase our deficit or raise taxes on unspent income? It is not about a "war" on the wealthy it is about economic reality.
That's absolutely true.
But where I get frustrated with Obummer is that he isn't offering middle class tax cuts. If he would have proposed a combo deal, like cutting the bottom three tax rate and "paying for it" by increasing capital gains or other taxes that tend to hit the rich harder, I would have been more supportive.