Six tax rates, ranging from 10% to 35%, have been in place since 2003, the Bush tax rates:
Tax rates will revert automatically to the following pre-2003 levels unless new legislation is passed:
Extending the Bush tax rates is not the way to go, its just the way the Democrats have framed the argument. Nor is the way to go allowing the rates to revert.
Republicans should pass brand new rates:
Only the highest rate would remain the same as the current level. All other rates would be reduced below their current levels.
Lets see how eager Obama and the Democrats really are to cry about helping the middle class during an economic recovery while demanding that the rich pay their fair share.
Do you know what debt is?