Diane Rogers on Obama's Tax Policy Talking Points
She writes:
Obama’s “Net Tax Cut”: Is Obama really proposing a “net tax cut”?... [F]or taxpayers as a whole, the answer is “yes” compared with current tax law.... But the answer is “no” compared with current policy extended.... [P]ermanent Bush tax cuts and permanently extended AMT relief [place] revenues as a share of GDP are 18.0% in 2013 and 18.2% over the next ten years. So at 18.2% and 18.3% of GDP for 2013 and ten-year revenue levels respectively, Obama’s tax proposals produce a small net tax increase relative to current policy extended....
[U]nder the Obama tax proposals, most households (all but those in the top 20%) would enjoy a tax cut compared to either baseline, so for most households... the answer is “yes.”... But for the richest of households (those with incomes in the top 1% or above around $600,000), the answer is clearly “no”–President Obama would raise taxes signficantly on these households, whether compared to current law or to current policy. (For example, a top 1% household would pay $38,419 more in taxes compared with current tax law... but $133,383 more compared with current policy extended...
And here is the Tax Policy Center's chart:
