On the recordDecember 4, 2012
it has been almost 3 weeks since we all met with the President to avert that fiscal cliff we hear so much about. Yesterday, after weeks of delay, and as the days dwindle and taxes are set to go up for millions of families and businesses, Republicans in the House finally showed up at the negotiating table. Now we know why they have been holding their cards so close to their vests. Their proposal would raise taxes on millions of middle-class families. Their plan is to raise $800 billion in revenue by eliminating popular tax deductions and credits that would reach deep into the pockets of middle-class families. Republicans are so intent on protecting low tax rates for millionaires and billionaires, they are willing to sacrifice middle-class families' economic security to do so. In the first year, unless we do something, middle-class families; that is, people making less than $250,000 a year, will get an average of $2,200 in additional tax, taxes they will have to pay. Their proposal that we received yesterday was short on specifics, but we do know from independent analysis that it is impossible to raise enough revenue to make a dent in the deficit without using one of two things: raising tax rates on the top 2 percent or raising taxes on the middle class.…





