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View Diary: Conservative pundit explains why Republicans are screwed on taxes (137 comments)

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  •  Obama is informed by the Clinton experience (1+ / 0-)
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    mconvente

    Clinton took the more difficult road of raising tax rates on the top brackets in year 1 of his Presidency.  Those tax increases were featured in the 1994 Congressional campaigns, but by the time he was up for re-election, no one cared.  Furthermore, raising those rates did not hurt the economy at all and did help turn the corner on deficit spending.

    From a policy standpoint, there is no harm done to the economy and some benefits for the fiscal picture.  From a political standpoint, Obama's lift is much easier than now than Clinton's was in 1993.  

    There is no incentive for Obama to do anything except play golf for the next 2 months.  Once all the Bush tax cuts expire then the bargaining will be around extending the middle class tax cuts (AGI under 250k).  The only negotiating Obama will do on anything above AGI > 250k is if loopholes are closed.  

    As for a grand bargain, it clearly will not happen in this Congress.  There is no way Democrats would ever agree to make big decisions of that nature in a lame duck session, especially when we will have far more leverage to shape those discussions in January.  

    The discussion right now is about the Bush tax cuts and nothing more.  

    Alternative rock with something to say: http://www.myspace.com/globalshakedown

    by khyber900 on Tue Nov 13, 2012 at 09:23:20 AM PST

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