, and according to you 250k adjusted gross income 'really isn't that much', are you trying to say that only those in the bracket above yours are rich ?
That's exactly what I'm saying
That debate will never find an answer because someone making 100k will say 150k is rich. 500k will say 750k is the line.
People think anyone making a buck more a year than they make are 'rich'.
We've had this tax structure since when? '03? Why does everyone want to start class warfare now?
My take on the Obama compromise is he's desperate to be re-elected and the economy will prevent that from happening. He's tried the Keynesian approach with little success, QE2 will more than likely fail just as QE1 did. He needs to pull out all the stops now and IF extending the tax cuts for the 'rich' will have any effect on job creation he'll be able to take the credit.
It will add to the debt if that's the measure you're using, but cutting payroll taxes (which is part of this compromise and the R's recommended doing during the run-up to the 'stimulus' bill) will put a further strain on SS too.
Point being, the focus at this instant is to do everything possible to get the economy moving at a faster clip. We can worry about tax cuts for the 'rich' again when they expire in another two years. Maybe then more members of congress will grow a pair and start working on debt reduction. A less complicated tax structure, like the one from Simpson-Bowles, will make this argument moot.
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