Heading into the fall elections, congressional Democrats appear ready to let the Bush tax cuts expire at year end.

That's going to be a tough sell on the campaign trail, even as populist Democrats try to fashion themselves as newborn deficit hawks.

A one-year extension of the cuts would "cost" the federal government $115 billion, according to the Congressional Budget Office.

Or, viewed from outside the Beltway, an extension of tax relief would save U.S. taxpayers $115 billion.

Democrats are already feeling the heat this summer. Some have joined President Barack Obama in calling for a partial repeal, sparing individuals earning less than $200,000. Others want to extend all the cuts, reasoning that breaks for higher-income individuals (and the companies they own) will spur job creation.

But political inertia and class warfare block the way.

In his radio address Saturday, Obama said that continued tax cuts for higher earners "will not create jobs; they will kill them."

Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi have sounded no less beligerant. After authorizing trillions in stimulus and health-care programs, they claim that deficit-reduction is now their top priority.

But the public is clearly anxious -- if not downright angry -- about any policies that will result in higher taxes. And unless the Democratic-controlled Congress takes action by Dec. 31 to extend the current rates, virtually every American will see his or her taxes increase.

Here are the current and future rates that will be effective Jan. 1 (income ranges are for taxpayers who are married and filing jointly):

• 10% now -- up to $16,750 -- 15% (Jan. 1)
• 15% -- $16,751-$68,000 -- 15%
• 25% -- $68,001-$137,300 -- 28%
• 28% -- $137,301-$209,250 -- 31%
• 33% -- $209,251-$373,650 -- 36%
• 35% -- over $373,650 -- 39.6%.

Even for those who stay in the 15 percent bracket, taxes will increase because of higher capital gains rates (moving up 15 percent to 20 percent), higher top dividend rates (15 percent to 39.6 percent) and the return of the estate ("death") tax, which goes from 0 percent to 55 percent.

In addition, higher taxes on insurers, drug makers and other health-care businesses will be passed on to everyone in the form of higher medical costs.

Some Democrats are getting the message from their constituents. Referring to the higher-income taxpayers targeted by his party, Rep. Gerald Connolly, D-Va., said:

"If they close up their wallets and checkbooks and debit cards because they have less disposable income, this is the wrong time for that."

Sens. Evan Bayh, D-Ind.; Max Baucus, D-Mont.; Kent Conrad, D-N.D.; and Ben Nelson, D-Neb., have made similar statements in opposing any increase in taxes.

But such new Democratic thinking has yet to surface in Florida's U.S. Senate race, where only Republican Marco Rubio has come out in favor of extending tax relief.

Rubio, in a teleconference last week with U.S. Chamber of Commerce Executive Bill Miller, warned that "70 percent of U.S. manufacturers and 20 million S-Corp. businesses will face higher taxes" if Obama & Co. have their way.

Excoriating the administration over the anticipated record $1.47 trillion federal budget deficit this year, Rubio said Washington "must get serious about cutting wasteful spending on failed policies like the stimulus."