Image via WikipediaBy Chuck Marr and Michael Leachman
Oregonians’ decisive vote last month to raise taxes on households making over $250,000 calls into question the conventional wisdom that tax-increase proposals are politically untenable regardless of their merit on economic, budgetary, and equity grounds. This has important implications for Congress, which must decide this year whether to let the Bush-era tax cuts expire. If Congress examines the issue on its merits, it will find that the case for letting the tax cuts for the highest-income Americans expire is solid.
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