Here?s one of the lessons Newsweek columnist Ezra Klein has learned from the tax deal between President Obama and congressional Republicans:
Republicans really, really, really care about tax cuts for rich people. Many Democrats had been operating under the theory that the GOP would obstruct everything they attempted, as that was the best way to make Obama a one-termer. But at least when it comes to tax cuts for very wealthy Americans, that?s not true. Republicans agreed to far more in unemployment insurance and stimulus proposals than anyone expected, and sources involved in the negotiations concur that the mistake Democrats made going in was underestimating how badly Republicans wanted the tax cuts for the rich extended.
Well, no. As discussed earlier in this forum, the idea that maintaining current top marginal tax rates benefits only ?the rich? is a false premise.
Plus it might be too much to expect Mr. Klein to investigate the importance of top marginal tax rates.
