Chart of the Day: Tax Cut Fever

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Speaking of tax cuts, I thought everyone should see a nice picture that compares the Obama position with the Republican position. As you can see, under the Obama plan (in blue) everyone gets a tax cut. According to the Joint Committee on Taxation, your average middle class household gets a cut of $916. An upper middle class household gets $3,766. A millionaire household gets $6,349. Money for everyone!

But that’s not enough. The red lines roughly show the additional tax cuts under the Republican plan. Everyone making up to $250,000 gets nothing. But the tiny number of households above that threshold get huge pots of money, and the pots get bigger the more money they make. I don’t have enough room on the blog to show it properly, but millionaire households get an extra $100,000 or so over and above what they’d get from Obama’s broad tax cut.

That’s what we’re fighting over: a broad tax cut with something for everybody, or a broad tax cut plus an extra bonus for the upper middle class and an extra super duper bonus for the millionaire class. That’s what the Republican Party has unanimously staked its future to.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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