In other words, raise the amount so many of Senator Schumer's friends on Wall Street can easily slide under the bar. Yes, the average income on Wall Street will be down this year but it still dwarfs what everyone else is seeing in the country. The Democrats continue to be at war with the middle class in favor of the wealthiest people in the country. Not surprisingly, the GOP is balking at this "compromise" because it's not enough. Both Democrats and Republicans never fail to deliver, for their core constituencies. Keep it up Democrats, so you can compromise yourselves into a complete political minority in 2012.
Why do both parties keep thinking that the middle class should continue to pay the price for thirty years of bad policy plus this recession?
Over the past few days, a growing number of lawmakers has publicly embraced the idea of extending expiring tax cuts for families making as much as $1 million a year. They include newly elected Sen. Joe Manchin (D-W.Va.), Sen. Robert Menendez (D-N.J.) and Sen. Claire McCaskill (D-Mo.), who argued on "Fox News Sunday" that "we should draw the line in the sand for millionaires."
The idea's chief proponent, Sen. Charles E. Schumer (D-N.Y.), said that raising the income threshold from $250,000, as Obama has proposed, has the potential to unite fractious Democrats behind a single strategy on the tax cuts, which are set to expire Dec. 31 unless Congress acts.
Schumer said the higher threshold also would make it far more difficult for Republicans to say no.
