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View Diary: "Top aide to Obama signals willingness to compromise over raising top tax rates on the rich" (95 comments)

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  •  This is not inconsistent with what the President (7+ / 0-)

    said.  He said that the wealthy would have to pay more and that middle income tax rates should be preserved.  He has set the marker at 250k, but I do think he would look at a compromise, but rates would have to go up in any compromise.  If the GOP doesn't want to include a rate increase that they would have to vote on, then Obama will simply let the top marginal rate go up automatically.

    The irony here is that for Republicans to limit the tax bite on those who have adjusted gross income above the 250k threshold, they will have to agree to and affirmatively vote to raise tax rates.  For example, Obama could very well agree to increase the threshold to AGI of 350k or above.  However, in order to do that, Congress would have to affirmatively approve it, which means enough Republicans would have to vote to raise taxes on the rich in order for it to pass the House.

    The box that the GOP is in is almost too delicious for words.

    If the GOP cares more about their Grover Norquist pledge (seriously, does this guy have dirt on every GOP member?  How does someone with no formal position have such power?) than keeping taxes low on the wealthy, then they will end up causing tax rates to rise for all income above the 250K AGI threshold.  If they truly do care about reducing the tax hit on at least a portion of those who earn AGI above 250k but say not 350k or 500k, then they will have to break the Norquist pledge and raise taxes.  Either way, the GOP will either break their pledge or screw the rich and bend to Obama's will.

    Alternative rock with something to say:

    by khyber900 on Sun Nov 11, 2012 at 02:57:23 PM PST

    •  well put (2+ / 0-)
      Recommended by:
      Cedwyn, mahakali overdrive

      I remember when Obama was boxed in and had to extend the Bush cuts. He was pissed and openly said he was doing it under duress and is willing to fight for letting them expire next time.

      He said "if you don't believe I'll fight, try me".

      America could have chosen to be the worlds doctor, or grocer. We choose instead to be her policeman. pity

      by cacamp on Sun Nov 11, 2012 at 03:33:06 PM PST

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    •  exactly (3+ / 0-)

      if boehner doesn't get this sorted in the lame duck session, all dems have to do is let the bush cuts expire and try again with the new, shiny congress where boehner's caucus is some 20 people smaller and at least two teabaggers down.

      so yah, he can try to use what's left of his leverage now and consent to some tax increases or dig in his heels and fail norquist's bathtub pledge outright.  that would make him look so weak, he'd cry.

      Please don't dominate the rap, Jack, if you got nothin' new to say - Grateful Dead

      by Cedwyn on Sun Nov 11, 2012 at 04:18:35 PM PST

      [ Parent ]

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