Dec 20, 2012 2:39 PM
Obama will reject Plan B. He will insist that marginal tax rates go up at a lower albeit still arbitrary level, and offer minimalist budget reductions. And why not? He holds the cards: if taxes go up on everyone he will simply propose a tax reduction on the 96% who are below his arbitrary 250K threshold:he will now become the tax cutter. More to the point signing a third part pledge is an exercise in political stupidity to begin with: giving a default veto over your political strategy to an advocacy group outside the party is strange. Notable: Reagan created Norquist, and couldn't pass the current litmus test. And parsing words in this legislation is simply silly: the exact same words could apply to any level of tax increase.