The Obama/McConnell tax “compromise” doesn’t just give billions to the aristocracy — it also raises taxes on the poorest Americans. This is just another sign of our policymakers’ priorities. They serve the moneyed elite, and not the vast majority of Americans.

As I wrote yesterday, the “compromise” would replace Obama’s Making Work Pay tax credit with a payroll-tax holiday. There is a significant difference between the two, and the result isn’t pretty. Under the new bill, the rich would once again get larger tax breaks. Anyone making less than $30,000 per year, on the other hand, would actually see their taxes increase.