Yesterday, on CNBC, ex-Clinton economics czar and current advisor to the freshman Senator from Illinois, Laura Tyson, tried in vain to paint a rosy picture of her new boss' tax plans.
Whenever the CNBC co-anchor probed Tyson regarding Obama's planned tax hikes for the 'wealthy' earning over $200K (single) or $250K (joint/married) annual income, the advisor kept singling out 'benefits' those taxpayers would enjoy.
Specifically, Tyson ignored the income rate hikes for the middle- and upper-income taxpayers, saying something like,
'Even the wealthy will get a benefit from the proposed 20% capital gains rate. The point is to see that overall this proposal will be good for the country.'
Every time a question was asked about specific income levels, ordinary, annual, recurring income and the taxes thereon, Tyson would retreat back to claiming that everyone would get something, and the economy would be better off.
She simply avoided admitting that the rookie from Illinois plans to pay for his big spending plans with tax hikes on everyone in or above the US economic middle class.
It was a classic display of political denial and waffling on Tyson's part. I guess her years with Bubba rubbed off on her after all.
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