Republicans' tax policy: "If it's for millionaires, it's good." (with chart)

[ProSense]

TAX POLICIES AND PRIORITIES....

<...>

The Washington Post has a good report, with an incredibly helpful chart, on just how much the GOP approach would cost: "A Republican plan to extend tax cuts for the rich would add more than $36 billion to the federal deficit next year -- and transfer the bulk of that cash into the pockets of the nation's millionaires, according to a congressional analysis released Wednesday."

The study, completed by the nonpartisan Joint Committee on Taxation, only looked at the effects for 2011, and they're pretty striking -- Republicans want to give millionaires and billionaires an average tax cut per household of about $100,000, every penny of which would be added to the deficit.

As a political matter, it's at least possible, if not likely, that the GOP feels so strongly about this that they'll block the Democratic plan (keeping the lower rates for those making less than $250,000) unless the majority goes along with the Republican plan (keeping the lower rates for the wealthy).

It sets up an interesting political fight in an election context -- Dems fighting for the middle class, while Republicans fight for the rich. In the wake of the GOP's opposition to the state-aid jobs bill, it creates a real opportunity for Democrats to reframe the parties' fundamental differences when it comes to economic priorities.

<...>

Referring to the GOP policy, Michael Tomasky concluded, "This is their agenda. If it's for millionaires, it's good. Period. It's never been quite this naked, but there it is. How the idiot Democrats are going to manage to lose to a bunch of people whose only real domestic agenda is to hand out $100,000 bills to millionaires, busting the budget while doing it, makes me sick to my stomach."

<...>

Chart via Ezra Klein

[valerief]

1. Great chart. Dems tax cuts are a deficit "spill" under control. Reps tax cuts are

a deficit "spill" out of control.

[Cosmocat]

2. It's fin simple ...

LET THEM FRIGGEN EXPIRE ...

They are NOT BOs or the demcrats to own ... It was a bill pushed through in RECONCILIATION by the Rs ...

They can scream TAX RAISE all they want - IF the dems push back enough at the media, they media will have to call them on it ...

Then put together a package of tax cuts for middle income earners and put the Rs into the corner for fighting AGAINST tax cuts ...

It is the right thing to do, first off, and the politics of it are so friggen clear even the brainless dems SHOULD be able to see a golden egg landing on their laps ...

SHOULD ...