While I’ve gone over how the Democratic and Republican tax plans scheduled to get a vote in the Senate this week are in many ways similar, I did not identify the points of difference, which are substantial in their own way, particularly in the direction that money would flow under the two plans. In particular, as Jonathan Weisman points out today, the Democratic plan picks up four tax breaks that target the lower and middle classes, held over from the stimulus, and extends them, while the Republicans allow them to expire. Overall, the Dem plan shifts tax benefits down, while the GOP plan shifts benefits up to the wealthy.
|By: David Dayen Tuesday July 24, 2012 2:10 pm|
|By: Jon Walker Friday December 10, 2010 2:15 pm|
President Obama seems remarkably proud of himself for the many “concessions” he won from Sen. Mitch McConnell (R-KY) as part of their deal to extend all the Bush tax cuts for two years. Yet, it seems almost all of the “concessions” Obama claims to have won were ideas actually promoted by Republicans. The amount of money allocated for things Obama wanted that didn’t have bipartisan support is much smaller.
|By: David Dayen Wednesday November 10, 2010 3:15 pm|
This is a really vicious proposal. But just because it has a few tax increases doesn’t necessarily mean that Republicans won’t take it and run with it. And there are enough Democrats in the Third Way side of things to be swayed by a “get serious” approach.