Rich Neal: “This Democrat will tell you what we intend to do. We have heard a lot of conflicting opinions during the past week about…”

“This Democrat will tell you what we intend to do. We have heard a lot of conflicting opinions during the past week about whether to extend the tax cuts for those at the top of the ladder. It is difficult to break through the clutter. But what is clear in this basic argument is it's about fairness and the type of tax system that we want to create. A recent analysis shows at various income levels both the cumulative benefit of tax cuts and the 2011 benefit, if we extend the tax cuts to everyone. Since 2004, those earning $10,000 have received $335 in total tax benefits. And next year they can look forward to an additional $5 if we extend the Bush tax cuts. Now, for someone earning more than $7 million, we will note that they have enjoyed more than $2 million in tax benefits since 2004. And next year they can look forward to $339,000 in tax cuts if we extend the tax cut system that President Bush offered as-is. Five dollars versus $339,000? It's a basic question of fairness. The tax code should treat working families better.”