As Jed already blogged, The White House and Republican leaders on Congress appear close to a deal on extending all of the Bush tax cuts. In the deal, Democrats get an extension of unemployment benefits and various, economically stimulative tax cuts they have desired. The Huffington Post has more details.
As a deal looms, there is increasing chatter among progressives about scuttling any deal at all, allowing all of the tax cuts to expire, and kicking the fight into next year. Paul Krugman made the case in his column this morning, focusing on how keeping the tax cuts could threaten Social Security and Medicare, not to mention signal that Republicans can walk all over Democrats for the next two years. There is also a brewing rebellion to any deal among House liberals, who seemingly agree with Krugman.
Make no mistake--this is a choice between two bad options, not two good ones. Further, it is a choice that Democrats must now also make, since the possibility of extending only the tax cuts for those making under $250,000 a year is no longer possible. It’s also a choice that we Kossacks have to make as a community, if we are going to be actively engaged in the end game of this fight.
So, tonight I am asking you to cast a vote about whether you think Democrats in Congress should go along with the pending tax cut deal, or whether you think they should block any deal and kick the fight into next year. Here are the basic arguments in support of each position, each of which have merit:
Don’t make the deal
- It shows Republicans that Democrats, for once, are willing to play hardball in negotiations, thus improving their position for the epic fights of the next two years.
- It helps reduce the deficit, thus putting far less pressure on Social Security and Medicare.
- It dismantles George W. Bush’s central domestic policy, instead of ratifying it forever.
Make the deal
- At least in the short term, it is much more economically stimulative than passing on any deal at all. A better economy means better Democratic electoral hopes.
- It’s a lot more popular in the abstract than allowing all tax cuts to expire, and will also be more popular in practice since virtually every American will take less of a hit in the pocketbook.
- In addition to helping the unemployed, it increases the possibility of repealing Don’t Ask Don’t Tell and ratifying the START treaty during the lame duck session. Nothing will happen on those until this deal is done.
This isn’t an easy choice, but we need to hear from you in order to help determine our direction over the next two weeks.
Take the poll.