the poor. Yes, the poor. As Harvard economics professor Greg Mankiw notes, the Congressional Budget Office has issued a report indicating that Baucus's plan will increase the marginal income tax for those whose income is at the "poverty level" to those earning 400% of the poverty level "approximately 22 percentage points." Now, I am not a Harvard economics professor, but I am pretty sure that raising the marginal tax rate on the poor does not make any sense, either economically or politically.
Exit question: is this what most of President Obama's supporters had in mind when they voted for "Hope and Change?"