David Corn makes the case for Obama's tax compromise in a column today, and on the way he explains the deal in startling numbers:
Obama's desired provisions will provide about $214 billion in tax cuts and benefits to 156 million people, and the GOP's treats will dole out $133 billion to 4 million. You can do the math without a calculator and see that those poor rich folks will be handed oodles more than the rest. One comparison: On average, people with more than $1 million in income will end up with an extra $140,000. A taxpayer in the $40,000-to-$50,000 range will receive $1,679. You may ask yourself, why do millionaires and billionaires warrant more pocket money, particularly when it's generally accepted that spreading cash among the rich is not effective economic stimulation? The answer: That's what Republicans want. And Obama is right: They held the rest of America hostage -- no cuts and benefits for you, unless there's "relief" for the gazillionaires.Read the whole thing.