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Republicans Have Already Lost Fight on Fiscal Cliff

Kibitzer Wrote: Nov 15, 2012 1:17 PM
Republicans lost the fight over ending the tax cuts for the rich long ago because the increase is automatic if no congressional action is taken. The only issue is really the terms of the surrender, i.e. what can they get for going along.

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...