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Republicans Have Already Lost Fight on Fiscal Cliff

Johnny L. Wrote: Nov 15, 2012 4:14 PM
Here's a solution: Flip the current situation. Agree to make the Bush Tax cuts permanent, but have a temporary tax hike on the rich (say to pre-Bush levels) expiring in 4 years. We stick to our principles while looking objectively reasonable.

You'll remember that President Barack Obama was the only candidate with a detailed plan to deal with the impending fiscal unpleasantness. And, as the president explained this week during his first press conference since winning re-election, "more voters agreed" with him, so naturally, it's time to give the people what they want.

So what do we win? Well, turns out there's only one detail worth remembering when dealing with the slew of tax hikes that kick in next year: We must reverse Bush-era tax rates on the rich. According to rosy projections of the Congressional Budget Office, this would...