Here it comes … higher taxes on middle class

September 7, 2010

An NY Times op-ed by just-departed WH budget chief Peter Orszag is getting lots of play because he advocates temporarily extending all the Bush tax cuts. After that, though, he wants all of them to expire. This is the part that really got my attention:

More troubling, middle-class and lower-class families would be saddled with higher taxes. That’s a legitimate concern, but also a largely unavoidable one if we are to tackle the medium-term fiscal problem.

Me: Again,  Orszag accepts that Americans are undertaxed, which is left-center dogma.  Of course, the real problem is not that tax revenues will be dramatically lower long term, it is that spending will be dramatically higher.

No comments so far

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/

[...] Higer Taxes on Middle Class Posted by wfl under Taxes Leave a Comment  James Pethokoukis alerts us to a passage in just-departed WH budget chief Peter Orszag’s op-ed that suggests [...]