The debate has been about whether to extend all the Bush-era tax cuts, or just the ones for Americans earning less than $250,000. But on NBC’s “Meet the Press,” National Urban League president Marc Morial called that a false choice. “The plan needs to be recast. It’s a 2001 tax cut plan that was designed as a stimulus to the recession that was taking place,” Morial said. “Why can’t we develop a new tax plan that might place greater tax relief for those at the middle and working levels? This tax plan gave those at the middle and working levels scant relief and gave greater relief to those up at the top. . . . Let’s design a tax plan for 2010 that confronts the problems of 2010.” It’s hard to remember that when those tax cuts were passed, the U.S. Treasury had a surplus. It’s harder still to believe that surplus was forecast to be $5.6 trillion by now.
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