Keller @ Large: Regarding Tax Cuts, How Do We Define The Rich?

July 9, 2012 12:00 AM
Keller @ Large: Regarding Tax Cuts, How Do We Define The Rich?

" BOSTON (CBS) – President Barack Obama calls for an end to the Bush tax cuts for the wealthy while keeping them for the middle class. But where do you draw the line?

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Plenty of Democrats were upset when President Obama agreed to extend the Bush-era income tax cuts two years ago. But with the cuts due to expire again next year, and the president calling on the rich to pay more, an old question is being renewed: how much do you need to make to be considered rich?

Within the Democratic Party, there is disagreement on where the middle class ends and the upper class begins.

“I just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton,” said President Obama.

But, House Democratic leader Nancy Pelosi and other top Democrats say the cutoff should be $1 million.

WBZ-TV sought clarification from the chair of the Democratic National Committee.

“It’s very clear that Democrats have been fighting for tax breaks for the middle class. Republicans have been fighting for tax breaks for the wealthy "

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