Obama Must Stand Strong on Taxes

Robert Reich, San Francisco ChronicleLet's hope the president holds his ground on not extending the Bush tax cuts to the richest Americans - who don't need it, don't deserve it and won't help the economy if they get it.But instead of limiting his proposed extension to those with incomes of $250,000 or less (the bottom 98 percent of Americans), he should offer it to incomes under $500,000 (essentially the bottom 99 percent) for two years. The real explosion of income and wealth has occurred in the top 1 percent.Between 2002 and 2007, the bottom 99 percent of incomes grew 1.3 percent a year in real terms, while...

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