Their thinking was this: The GOP was on the wrong side of the polls in the battle over raising taxes on the highest earners. Surveys showed substantial public support for the president and Democrats on that issue. But Republicans are on...
In response to:
"Everybody knows Obama's tax increases will do little to reduce deficits in coming years. They'll add about $60 billion in revenue a year, turning a $1.2 trillion deficit into a $1.14 trillion deficit." Who says they'll add $60 Billion a year? That was the number when we were talking taxing people making $250,000 and over, not $450,000 and over. That's a much smaller cohort. And it certainly doesn't take into account that when you tax something you get less of it. Every year expect LESS on the revenue side and MORE on the spending side, especially as we plod onward into another recession. This latest tax increase will do virtually NOTHING to stem the deficits. This essay, from the top down, is hogwash.
During the "fiscal cliff" battle, I asked several Republican lawmakers why they didn't push harder for spending cuts in exchange for their historic concession to vote for higher taxes. They invariably answered that they were waiting for the fight over raising the debt ceiling. Then, they promised, Republicans would demand serious cuts, especially in entitlement spending, from President Obama.
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