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View Diary: House GOP negotiating with itself about tax rate hike on millionaires (93 comments)

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  •  There is no time for a grand bargain... (8+ / 0-)

    What Pres is pushing for now is simply for the House to pass the Senate bill to extend Bush tax cuts for the first $250,000 and then he'd let the Bush tax cuts expire on the rest.  That would stave off the fiscal cliff as the fiscal cliff is all Bush tax cuts expire across the board.  

    We're in the middle of November - Congress likes to leave for it's Christmas break middle of December.  So they have four weeks to get something done - no way a grand bargain comes together over the next 20 working days before the Christmas recess.  

    I have no doubt that the Bush extra tax cuts expiring will be traded for a year long extension on the triggered cuts.  That will get deficit action right away, give middle class families certain security and give all next year to work on major tax reform before looking at the triggered cuts again.  

    They have the billionaires, We have the Big Dog!

    by Jacoby Jonze on Thu Nov 15, 2012 at 10:07:00 AM PST

    •  The whole point of a grand bargain was (3+ / 0-)
      Recommended by:
      mdmslle, Gowrie Gal, Calamity Jean

      to be, to curry favor with moderate swing voters and win re-election.  But R's wouldn't play ball, O found another way to win, and the whole project is a dead letter now.  It looked likely for a short while, but at this point there's NO point.  

      "The extinction of the human race will come from its inability to EMOTIONALLY comprehend the exponential function." -- Edward Teller

      by lgmcp on Thu Nov 15, 2012 at 11:41:53 AM PST

      [ Parent ]

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