What Do the President's Tax Proposals Mean for Us?

By QR Blog Editor 07-10-2012

Writing for The Atlantic, Derek Thompson takes a look at what the President's tax plan actually does:

"In the long run, historically low tax rates for the "bottom" 98 percent aren't sustainable. For President Obama, demanding higher taxes on rich people is the easy part. Three in five people told Gallup that "upper-income people" were paying too little in federal taxes, Molly Ball reported. The hard part is facing up to the long-term reality that historically low tax rates on 98 percent of Americans is no way to pay for historically high entitlements for 100 percent of Americans."

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