Taxes should not be a partisan issue.
A chart published by the Wall Street Journal denotes the difference between the current tax plan, which includes the Bush-era tax cuts, and the Obama plan, which revokes the Bush-era tax cuts for those earning over $300,000.
The red bar indicates the taxes currently paid by the groups listed, and the blue bar indicates the taxes which would be paid under the Obama plan in 2011.
Unless you are a blithering idiot, you can clearly see that there is a tax reduction for those earning below $300,000, which decreases as income goes up.
Those earning over $300,000, will see a slight increase in taxes due to the expiration of the Bush-era tax cuts. [This may mean that Cindy McCain may have to forego one of her trips abroad.]
To reiterate, the Bush-era tax cuts are unsustainable. The affect of the cuts on the deficit amounts to trillions over a period of years.
Please note that the Bush-era cuts are the largest portion of our debt.
