A chart from the Wonk Room illustrates the most basic difference between the two parties and the gains made in this plan.
The chart aptly illustrates how many people benefitted [millions] from Democratic priorities vs Republican priorities, as well as noting the total cost in billions.
On the Democratic side, we get an extension of the tax cuts for the middle class, a 13-month extension of unemployment benefits, a 1-year payroll tax cut of 2.5% [employee side only], and extended tax credits from the 2009 Recovery Act. These components of the deal will benefit 156 million people, and cost $214 billion in deficit spending.
On the Republican side, they get an extension of the tax cuts for the rich, and a 1-year cut in the estate tax, and those components, the Republicans priorities, benefit 4.8 million people at a cost of $133 billion in deficit spending.
Stay tuned.
RELATED:
- FULL VIDEO & TRANSCRIPT: Obama Press Conference on Tax Cuts - Dec. 7, 2010
- White House: We Wanted a Fight
- TRANSCRIPT: Details on Obama Tax Cut Plan
