Comparing Tax Cut Plans

The Republican plan to extend the Bush administration tax cuts for the wealthy would cost $36.6 billion more than the Democrats’ plan, which extends cuts only for families making less than $250,000 a year and individuals making less than $200,000.

Last week, the administration had indicated a willingness to extend tax cuts for the wealthy in order to preserve cuts for the middle class, but it looks like Axelrod is backtracking a little bit on that:

“Chris, I’m not going to negotiate with you on this program,” he told Wallace [on Fox News Sunday]. “Let me repeat what the president’s position is. We have to extend these middle class tax cuts. Absolutely have to do that. We should do that permanently. Give people the security of knowing that their taxes aren’t going to go up … We cannot afford to go the additional step and permanently cut taxes primarily for millionaires and billionaires at a cost of $700 billion for the next ten years alone.”

On a tangential note, why are members of the administration validating Fox by appearing as guests on their programming after previously making a big deal over asserting that Fox is not a news network? Or do they view that on similar footing as Obama going on the Daily Show?

Hat Tip: Aurora

Washington Post and Politico