On the defensive for cutting a $700 billion tax deal with Republicans, President Obama argued that the agreement is important because it would benefit middle-class Americans. The Tax Policy Center’s preliminary analysis of the plan finds that he’s right—though the proposal would help just about everyone else as well, including the nation’s highest-earners. How much [...]

The tax deal reached by President Obama and congressional Republicans (but not Hill Democrats) includes a bit of good, some bad, and some really ugly. To summarize, this package would make nearly the entire individual revenue code permanently temporary, which is horrible tax policy. It gives the lie to the pious talk about deficit reduction [...]