Next – What does "tax cut" mean?

I am shocked that the media has not been reporting this stuff but even more shocked that the McCain camp has not been contesting it at every turn.
According to the Wall Street Journal, Obama’s tax cut to all working families is not what it appears.
The IRS will become even more of a welfare bureau if Obama has his way.
Commenters, please address the facts and logic in this article and not the fact that it came from the WSJ.