Promising the middle class -- and a good swath of the upper middle class -- that their taxes will never go up is politically cowardly, economically irresponsible, and a betrayal of the progressive belief in government.
If there's one thing that unites conservative politicians, it's the economic value to all of society of tax cuts that disproportionately benefit the wealthy, such as those passed in 2001 and 2003 under President George W. Bush.
The inherent problem with allowing the Bush-era tax cuts expire for Americans earning more than $250,000 a year -- let's call them $250k+ Americans -- is that not all $250k+ Americans are created equal.
The nation requires more tax revenue to address the nation's fiscal problems and, by doing this, we can advance toward the goal of guaranteeing that everyone has the property necessary to lead a meaningful human life.
Holding a one-year extension of the Bush middle-class tax cuts hostage to an extension of tax cuts on incomes over $250,000 , as House Republicans have done, creates dangerous economic risks with little economic upside.
In reality, Romney and the GOP are pushing an agenda that has nothing whatever to do with reducing the budget deficit. If they were serious about deficit reduction they wouldn't demand tax cuts for the very wealthy.
Obama is going to win the election this year and when he does, I want him to raise taxes on wealthy Americans by repealing the Bush tax cuts or introducing new tax legislation on the "1 percent" as well as capital gains.
If the tax cuts were bad a decade ago, what has changed since then (for now, leaving aside cyclical issues)? We have had one more decade of aging and health care inflation (and war), so the long-term budget outlook looks considerably worse.
The assumptions made here by the Congressional Budget Office suggest a radically different federal government than we're used to, one that taxes more and one that spends more on various mandatory domestic programs and less on defense and discretionary programs.
Some say the pony in the Bad Loser Debt Deal is that the tax cuts will expire at the exact same moment they would have expired if there wasn't a Bad Loser Debt Deal. O-kay! Except I've seen this movie before, and I know how it ends.