Congress doesn't work that way. Obama is going to do what he feels like he was elected to do and Congress will do what their constituencies voted them in to do. They weren't voted in to lie down for Obama. That being said both sides have some leverage. The Democrats have more probably bc the tax cuts are already expiring. The Democrats don't want to give up anything for tax increases on the wealthy so the Republicans would be better off to wait for them to expire first and then agree to the only deal they'll get in the new year which will be the middle class tax cuts. At least in that scenario Democrats will own the tax increase.