Obama's tax plan: Political tactics, not leadership

President Barack Obama has once again proposed extending the Bush tax cuts on most Americans but letting them expire for those who make $250,000 a year or more. Republican presidential candidate Mitt Romney issued a "pre-buttal" of Mr. Obama's announcement, insisting that the tax cuts should remain in effect for all. And hanging over the entire discussion is the risk that if Congress does nothing, everyone's taxes will go up on Jan. 1.

July 9, 2012