Hillary Clinton's stated recently that she will not raise taxes on the middle class. She will raise taxes only on the rich and super rich. But at what income does the middle class end and the rich begin?
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.
Within hours of the conclusion of the 2012 election, partisan leaders began drawing lines in the sand with respect to tax policy, and tax rates in particular. But history tells us that dramatic change is unlikely.
If a temporary personal income tax hike is the price we pay for long-term reforms that enhance infrastructure, encourage job growth, and make the tax system more equitable, then it is a price worth paying.
Anyone in the media talking about raising income tax rates on the top two income brackets should disclose their possible conflict of interest. "Full disclosure, I fall into the top tax bracket myself, so I would personally be affected by changing this rate."