http://news.yahoo.com/s/ap/20080313/ap_on_go_co/congress_budgetThey repeat this like it's a fact, without the necessary caveat "according to Republicans"
"Obama and Clinton both promise to reverse Bush's tax cuts for wealthier taxpayers, but the Democratic budget they'll be voting for would allow income tax rates to go up on individuals making as little as $31,850 and couples earning $63,700 or more."
Here's what the CBPP says about that, and other Republican comments on the Bush tax cuts
http://www.cbpp.org/3-12-08tax.htm"2. “Under their budget, the definition of rich would reach down to… couples who earn $63,000.” —- Senator Mitch McConnell, Senate Minority Leader, at a press conference on taxes, March 12, 2008
“Even with the Baucus amendment added to this budget, there would be marginal rate increases on millions of taxpayers. . . . These marginal rate increases would reach taxpayers with incomes as low as $31,850 for singles and $63,700 for married couples.” —- Senator Charles Grassley, Ranking Member of the Senate Finance Committee, during the debate on the Senate budget resolution, March 10, 2008
Senators McConnell and Grassley are referring to the income levels at which taxpayers can begin to benefit from 2001 tax cut’s reduction in the 28 percent tax rate. But in calculating these levels for 2007, they failed to factor in the personal exemption and standard deduction. With those included, the then-28 percent, now-25 percent bracket begins at $40,600 for singles and $81,200 for couples. (To benefit in full from the 25 percent bracket, a single individual needs an income of at least $85,850, and a married couple needs income of at least $146,000. This explains why the Tax Policy Center estimates that some 80 percent of the benefits of reducing the 28 percent rate to 25 percent go to households with incomes above $100,000; see
http://www.taxpolicycenter.org/numbers/Content/Excel/T07-0018.xls.) "
The Liberal Media strikes again - advancing Republican lies as "facts".