Barack Obama has caved. He will be vilified by progressives. Why did he do it? Simple. He wants to be reelected in 2012. Had he allowed a middle-class tax increase, it would have been all over for him. Better to anger progressives than to anger the American middle class.
Addendum: I haven't read a column by Bush-Hatin' Paul in a long time, but I couldn't resist reading today's column, since I knew the topic was taxation. Sure enough, Bush-Hatin' Paul wanted Obama to let middle-class taxes go up. Nothing—not even the welfare of the middle class—stands in the way of soaking the rich.
Addendum 2: If you like class warfare, you'll love this.
Keith Burgess-Jackson, J.D., Ph.D. 