I'm in the camp that believes Republicans have no choice but to agree to raise taxes on the top 2 percent of earners. The party has been successfully caricatured as the servant of the rich. This is unjust, yes, but justice is imperfect in this life. It's political suicide for Republicans to stand fast on maintaining current rates for high earners even at the cost of raising taxes for everyone else. Imagine if we went over the fiscal cliff. In January, Obama would call upon Congress to pass a law restoring the tax rates for 98 percent of filers. What could...
What if all small businesses went on vacation once they have earned $249,000 in a year? Sure would put a crimp in the government's revenue stream. When Obama and the D/L/P crowd get their higher tax rates, the "rich" will change their behavior to avoid as much as possible of the additional tax that the D/L/P crowd expect. It is revenue not tax rates that they should be looking for, but they erroneously equate higher revenue with higher tax rates in spite of historical evidence that this is a false assumption.
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