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View Diary: The "Fiscal Cliff" Was When Bush Cut Taxes - Letting Them Expire Climbs Us Back Out (32 comments)

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  •  I think you are overly optimistic about expiration (0+ / 0-)

    of Bush tax cuts no the wealthy.

    I am not convinced that they will all expire.  I think based on the comments made from Friday's meeting, some type of general deal was struck.  

    I think that the deal they struck was to agree to increase taxes up to a top rate less than it was under Bill Clinton and to make this new top rate permanent.  This would give the democrats a tax increase and would allow the republicans to say that they made some of the Bush tax cuts permanent.  

    I haven't really seen analysis of this but when I heard a media statement that this was possible it make sense to me that this is where they are going.  

    It is in the President's nature to like compromise and I am not sure he has the stomach to go over the cliff.

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