Here is my 2 cents on this:
1) Both Romney and Obama agree that the Bush tax cuts should be extended for those making below 250k.
2) Where they disagree is whether or not the cuts should be extended for those making over 250k.
3) By sitting on their butts and doing nothing, something which the congress is masterful at, ALL Bush tax cuts will expire at the end of the year.
4) And here is where the fine line between recovery and a double dip recession lies. By letting ALL the Bush tax cuts expire, demand for products will be reduced, due to less money in consumers' pockets. But at the same time, all economists agree that we are not going to be able to move the economy forward without some kind of revenue coming in to the government. Tax cuts alone are not going to solve the problem.
5) By targeting the Bush tax cut extension to those making under 250k, Obama is forcing Romney to take sides with the rich over this issue, and then use that to leverage his argument that Romney only cares about the rich.
6) To sum it up, Obama is playing pure politics with this issue, and IMHO, this IS class warfare he is engaging in. Sure, Republicans are playing the class warfare game too, but this thread is about the play from Obama's playbook, not Romney's.
7) And yes, this announcement by Obama does not pass the smell test.
The effective rate of my income is what it is...and the fact you slithered past is that Romney on hundreds of millions paid LESS...and your in the same breath going to attempt to slobber all over yourself and whine that Romny needs another tax cut and the middleclass needs more entitlement reduction and we cant afford the middleclass but we can afford to give another huge tax cut to the rich and famous and the great boosters of communist chinese quality of life and thier economy to our great far eastern corporations.
