JONATHAN COHN AUGUST 23, 2010
The impending expiration of the Bush tax cuts divides politicians into two camps. One group (which includes most Democrats as well as the White House) supports extending tax cuts for the lower and middle classes while letting upper-class tax breaks expire. As Jon noted earlier today, the wealthy still see the largest savings on their tax bill--around $6,000 under this approach. The other proposal is to extend all of the tax cuts. This saves your average millionaire about $128,000, enough to buy...
34,725 Big Macs
By comparison, someone making between $40,000 and $50,000 stands to save $836, according to the Tax Policy Center. That's enough for only 225 Big Macs.