It looks like the Democrats will cave (shocking), and everyone in this country – rich or filthy rich included – will get a tax cut. Of course, that was a foregone conclusion – not because Democrats have no backbone, but because even the Democrats’ plan called for tax cuts for everyone on their first $250,000 in income earned.
The Washington Post’s Ezra Klein posted a telling chart today that demonstrates the difference between the two plans. The brackets are virtually identical in each income bracket with people actually getting more money back under the Democrats’ plan – that is, until you reach the top earners. Check it out (after the jump).
That staggering difference aside, it looks like that’s what the Democrats are going to do. And why shouldn’t they? After all, 26 percent of Americans are in support of that course of action.