Reading yet another post on the fiscal curb and the deficit "problem" got me thinking about what both sides want. This whole issue is ridiculous. It was created by Republicans in the House to make Obama look bad and to get lower taxes. Up until now I've agreed with Obama's preference to raise marginal tax rates on income at 250k and up. The problem in these fiscal curb negotiations is that Republicans really, really don't want that. If there is one thing they are consistent about, it's that they want to lower taxes on the rich. So how do we get a deal given these constraints? Obama wants to raise taxes on the rich in order to help lower the deficit. But I don't care about the deficit right now. So even though I'd like to raise taxes on the rich in principle, I'm willing to give that up. I'm not sure if Obama is willing to give that up for things like extension of unemployment benefits or extension of a payroll tax holiday. But I would. If he ...
Not the blog you deserve, but the one you need right now