Tax Dealing: From Both Sides Now

Howard Gleckman presents the numbers in two ways:

If you assume the Bush-era tax cuts were going to be extended anyway (what wonks like to call the current policy baseline), this deal is a sweet tax cut across the board. But if you compare it to the tax law at the end of the Clinton Administrationthat is, if you assume the Bush-era revenue law expires in three weeks (the current law baseline)this proposal is a big tax cut indeed and one that benefits very high earners much more than others.