With the expiration date on the two wars in sight, why not let all of the Bush-era tax cuts expire, so that everyone has skin in the game? Let us simply go back to paying the rates during the Clinton era -- everyone.
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.
President Obama claimed that his re-election gave him a mandate to increase taxes on those earning more than $250,000 a year because "the majority of Americans agree with my approach."
But how can he know?
The Child Tax Credit was designed to help working parents manage the high costs of raising children. And it does just that, partially offsetting payroll taxes for parents to make it easier for them to meet their family's basic needs.
The Republican Party may revere Ronald Reagan, but they definitely wouldn't recognize each other if they met at a tax policy conference today. Nor would the gipper last for long on the Republicans side of the deficit-reduction super committee.