Washington Post article here examining the Obama tax proposal versus the current Bush tax cuts. And here’s all we need to know:
Given the soaring national debt, many economists deem both proposals unaffordable. Even some Republicans, including Reagan administration budget chief David Stockman and former Fed chairman Alan Greenspan, have urged lawmakers to let them expire and allow income tax rates to pop back up to their levels during the Clinton administration.
But this below chart is the best tool to see what we’re talking about.