Mark Levin, citing CNS News, says that just six months ago Obama was proposing to make the tax cuts for the so-called ‘middle class’ permanent, that is everyone making below $250k per year. But Obama’s new plan he announced yesterday doesn’t make them permanent, but rather it allows those tax cuts to expire in 2014. So basically taxes go up on everyone making over $250k at the end of THIS YEAR, and for everyone else (aka middle class) taxes will go up at the end of NEXT YEAR.
So in short, Obama is going to raise taxes on everyone in the next 2 years regardless of how much money you make.
Mark Levin explains this shell game below and how it relates to Steny Hoyer’s comments yesterday: