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View Diary: Warning: Swallowing the President's Bitter Pills May Cause Harsh Austerity (246 comments)

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  •  If the current session does nothing (1+ / 0-)
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    gerrilea

    by the end of the year, who will be the most miserable?  
    I give that to the Rs.  I expect them to make any deal impossible so that they can howl on January 1 that the President raised everyone's taxes.  

    They have to make the expiration of current law into a huge trauma for the public because it isn't.  It's a huge trauma for the privileged few. At about $1.5 million in income there will be an increase of $120,000 in taxes.    
    The top 0.1% will see a $600,000 increase in taxes.  People who make $40,000 won't raise a huge fuss over their $1400 increase but the Rs have to stir them up to that the 0.1% and the 1% have some allies to get what they want.  

    Now is the time to insist that the Rs in the House pass legislation to extend the lower rates on income under $250,000.  It's an important step that shouldn't be skipped.  If the Rs do nothing before the end of the year, it's important that people understand why their taxes are going up.  Not because Obama raised them, because the Rs in the House did nothing.  

    I see no point in jumping to possibilities that may never happen while neglecting more immediate concerns.  I suspect that the President may want to achieve a broad comprehensive deal.  It won't happen before the end of the year. There may be more possibilities after the new session begins with a slightly different mix of players.   If we get to that point, it's important that we don't start the new year with a majority already against the President because we let the Rs blame the tax increase on him when it's entirely within their power to prevent it now.  

    "Those who deny freedom to others, deserve it not for themselves." - Abraham Lincoln

    by leftreborn on Thu Nov 15, 2012 at 06:21:56 PM PST

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