Good. But I Thought It Wasn’t A “Tax Increase”

Top Earners’ Taxes Likely Won’t Change During 111th Congress

Congressional Democrats have spent the past eight years itching for a chance to undo their least favorite Bush-era policies.

But it increasingly looks like one of the administration’s most unpopular initiatives among Democrats — tax cuts for top earners — won’t get touched by the 111th Congress.

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Rep. Richard E. Neal , D-Mass., said he definitely does not want a large tax increase now, given the economic climate. Instead, he wants to look at the rates in the context of a broader effort to revamp the tax structure.

I’m glad to see that Obama’s not a complete idiot. But what’s this about waiting for the recommendations of his “economic recovery advisers?”

I’m also heartened to see a Democrat admit that it would be a tax increase and that it’s madness to raise taxes during a recession.

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