The Ever Shrinking Obama Tax Cut Threshold

First, families making under $250K would get a "tax cut" under Obama. Then it became $200K. As of yesterday, Biden said it was $150K. From Byron York. (Remember that in 1992 Clinton started with "families making more than $1 million would face a tax hike, then it was $500K, then $200K, and then he ended up going with everyone who paid taxes.)

These numbers are moot anyway because Obama already promised to let the tax cuts expire at the end of next year, which basically means every tax bracket is going up, so whether it's $150K or $250K, he's just deceiving everyone anyway. It's a bit like a recent Democrat proposed overhaul of all 401-K programs - the government takes away the tax deductability and then gives everyone a $600 "tax cut," whether you put in $600 or $10,000 into your 401-k. Once again, it's a plan that works well for people who pay no taxes and is a raw deal for those who actually pay taxes.