How folks feel about tax cuts

New USA Today/Gallup poll has 44 percent wanting an extension of the Bush tax cuts for those making less than $250,000, while letting the cuts expire for anyone making over that amount. That's what Obama is proposing. Another 37 percent favor keeping the cuts for everybody (that's what the Republicans are pushing), and 15 percent say they should expire for everybody. On the Tax Policy Center Web site, Howard Gleckman reluctantly favors extending the cuts,

My biggest objection to the Obama plan is that is manipulates expectations. It implies that the nation can solve its budget problems by simply raising taxes on the wealthy. But this is not possible. As a recent Tax Policy Center study showed, even trying to do so would result in top rates approaching 80 percent. One day, a president and Congress will have to agree on a deficit reduction package that raises taxes across the board and cuts spending. That's when those allegedly permanent tax cuts will disappear. Pretending otherwise is irresponsible.

Given how fragile the economy is (and will continue to be), it's hard to justify ending the cuts at any income level. The other big problem with Obama's proposal is that it's piecemeal - and Washington is simply incapable of enacting necessary tax reform. Perhaps not hopeless, but close. From NPR:

"Does anybody in their right mind think that you're going to have equitable tax reform here in Washington where we're going to be descended on by all kinds of lobbyists, representing the wealthiest people and loopholes they're gonna put in? It ain't gonna happen!" said [Sen. Bernie Sanders (I-VT)].