Within an hour of Speaker John Boehner proposing a “Plan B” that would preserve tax rates on all Americans who earn under $1 million per year, both the Obama White House and Senate Majority Leader Harry Reid have rejected it. Reid’s logic is curious, to say the least.
“Speaker Boehner’s Plan B is the farthest thing from a balanced approach. It will not protect middle-class families because it cannot pass both Houses of Congress. The Senate bill is the only Plan B that can be signed into law and prevent taxes from rising by $2,200 on the average middle-class family,” he said.
So it won’t protect the middle class only because Reid and the Democrats won’t allow it to. If it passed the Senate and the president signed it, it pretty obviously would protect the middle class’ current tax rates.