The White House tax cut agreement, Oregon senator Jeff Merkley and seven of his colleagues noted in a statement last week, “would require American taxpayers to borrow over $50 billion in order to give, on average, $100,000 in additional annual tax cuts to people earning over $1 million per year.” These “bonus” tax cuts sit “on top of the $43,000 per year that millionaires will receive in tax cuts on their first million dollars of income.”