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Anatomy of a Flop: GOP "Cliff" Counter-Offer Fizzles

Brubaker15 Wrote: Dec 04, 2012 3:08 PM
The "richest among us" already pay far more than their "fair share." In 2009, the top 1% paid 36.7% of federal personal income taxes collected. The top 5% paid 58.6%. Meanwhile, the bottom 50% paid just 2.25%. Get in touch with reality.

Yesterday evening we reported the details of House Republicans' "fiscal cliff" compromise offer to the White House, which offered real ideological concessions, to the tune of $800 Billion in new revenues.  The plan -- originally conceived last year by the Democratic co-chairman of the debt commission, Erskine Bowles -- also calls for the reduction of both discretionary and mandatory spending, making needed (albeit small-ball) reforms to the largest drivers of our debt.  Unlike the president's risible, widely-panned proposal last week, Republicans' new negotiating posture offers genuine compromise: (a) It has bipartisan origins, (b) it achieves "balance," (c) it...