Yes, that was my take on the headline also until I read the article.
Typical manipulation by our media overlords.
The Bush Tax Cuts and the Deficit Myth —
Runaway government spending, not declining tax revenues, is the reason the U.S. faces dramatic budget shortfalls for years to come.
http://www.freerepublic.com/focus/f-news/2551642/posts
By allowing the 2003 tax cuts to retire, Present 0 will be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.
Raising the 10% bracket to 15% represents what percentage of increase? ( The correct answer is NOT 5%)
Raising the 20% bracket to 25% represents what percentage of increase? (correct answer, again, is NOT 5%)
Finally, raising the 35% bracket to 39% represents what percentage of increase: Hint: The correct answer is NOT 4%.
Extra credit question: People in which tax bracket will see the largest percentage of increase in their taxes?
Extra extra credit question: People in which tax bracket will see the smallest percentage of increase in their taxes?
To those moving from the 35% to the 39% tax bracket...that’s roughly an 11% increase in taxes.
From 20% to 25%...that’s a full-blown 25% increase in taxes.
To those moving from the 10% bracket to 15%, their taxes will be increased by a whopping 50%.