What The Tax Fight Is All About: The Top 1%

Citizens for Tax Justice broke it down:

CTJ looks at the numbers from a baseline that assumes all the Bush tax cuts will expire at the end of the year. From that perspective, Obama and the GOP are both proposing large tax cuts — Republicans just want much larger ones for the very wealthy.

But the baseline doesn’t really matter. As you can see, for 99 percent of taxpayers, there’s almost no bottom-line difference between what the GOP is proposing and what Obama’s proposing.

The entire fight is over how much the top one percent of earners should pay in taxes.

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