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Schumer Adopts GOP Argument Against Obama Tax Plan

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Schumer, of course, represents New York City, where peoples' incomes are higher than the national average. So are their costs, though. And $250,000 a year doesn't typically go as far in Manhattan as it does in most other parts of the country. He's also been consistent that drawing the line at $1 million creates a starker message: they're on the side of millionaires, we're on the side of everyone else.

But because Schumer's argument so closely mirrors theirs, GOP staffers -- who typically attack Schumer as a partisan -- are blasting his statement to reporters, to portray Obama's agenda as out of the mainstream.

Polling tells a different story. Most Democrats support allowing the Bush tax cuts to expire for income above $250,000, as do most people in the country. Schumer disagrees for parochial and political reasons, but Republicans will now and forever cite his cri de coeur to suggest their opposition to Obama's plan is broad and bipartisan.

All of this gives Schumer's plan a big de facto boost, and he'll take it. Indeed, the fact that Dems couldn't consolidate support for Obama's jobs bill until it was paid for with taxes on million-dollar earners only indicates a stronger consensus within the party for Schumer's plan than for Obama's.

But Obama has pledged not to renew the Bush cuts for income above $250,000, and this makes his job much harder. Schumer's plan is compatible with the White House's "Buffett Rule" -- making sure all million-dollar-plus earners pay at least the same effective tax rate as middle class workers -- so the two aren't completely out of step. The Buffett Rule has become Obama's rallying cry for fairness in austere times. But the President have to limit his focus to millionaires if Schumer and, of course, the GOP, have anything to say about it.

This post has been updated.

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About The Author

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Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight and the debt limit fight. He can be reached at brian@talkingpointsmemo.com

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