Martha Coakley told Eagan and Braude that she did not benefit from the Bush Tax Cuts. That is patently false. As the Brown Campaign lets us know:
“Martha Coakley needs to clarify her remarks that she did not benefit from the 2001 and 2003 tax cuts. Either she’s deliberately misleading people, or she doesn’t fully understand how important those tax cuts are to average American families,” said Beth Lindstrom, Brown’s campaign manager.
If the tax cuts are allowed to expire, as Martha Coakley wants, then:
* Tax rates will rise in each tax bracket;
* Low-income taxpayers will see the 10-percent tax bracket disappear, and
they will have to pay taxes at the 15-percent rate;
* Married taxpayers will see the marriage penalty return;
* Taxpayers with children will lose 50 percent of their child tax credits;
* Taxes on dividends will increase;
* Taxes on capital gains will increase; and
* Federal death taxes will come back to life in 2011, after fading down to nothing in 2010.
Everybody benefited from the “Bush Tax Cuts” everybody.