
Obama's position: Terminate tax cuts for the wealthy and keep them for everybody else earning $250,000 or less. Including small businesses.
Multiple polling memos are circulating on the Hill in an effort to persuade skeptical Democrats facing close races that extending the cuts for the middle class, while allowing rates to rise on the wealthy, is a political winner, reports The Huffington Post.

But by allowing a vote on Senate Minority Leader Mitch McConnell's (R-KY) plan to extend all the tax cuts, moderate Republicans and Democrats would be given cover.
They could tell constituents they voted to extend all of the tax cuts, but the effort failed. The only choice left was to extend the middle-class tax cuts or let them all expire.

The fear is that Republicans will find a small-businessman -- it only takes one -- and sit him before a camera, fretting that tax hikes will make it harder for him to hire people.
Even Senate Majority Leader Harry Reid, running a tight race in Nevada, won't spell it out that he supports allowing the tax cuts for the wealthy to expire.
Here is how he recently answered reporters' questions on the topic:
"... We have -- it appears, at this stage, we have two issues. One is taking care of the middle class and the other is taking care of the millionaires. It's pretty easy to understand where I am on that.
"I support the $250,000. I've said so many times."

House Speaker Nancy Pelosi (D-Calif.) has made the case for moving forward with a vote on extending the middle-class cuts and allowing those for the wealthy to expire.
We favor keeping the tax cuts for everybody for the next four years, at least. Of course, that will mean less revenue flowing into the Treasury at a time when the country has rung up the largest debt in its 234-year-old history.
What do you think?