In Tax Cuts, the Options Run Short

[last_texas_dem]

by David Leonhardt, NYT

>>>Democrats have left themselves in a tough spot on the Bush tax cuts. After delaying the issue until after the election and then being trounced in that election, they find themselves with little leverage.

If they cannot come up with a plan that can win 60 votes in the Senate, which means at least two Republican votes, Republicans can filibuster any bill. All of the tax cuts would then expire on Dec. 31. When the new Republican House majority arrives in January, it will be able to make its first order of business a retroactive tax cut — forcing President Obama and Senate Democrats to choose between a purely Republican plan and an across-the-board tax increase.

So the big question is whether Democratic leaders can come up with any compromise that centrist Democrats and a couple of Republican senators — Scott Brown, who represents liberal Massachusetts? George Voinovich of Ohio, who is retiring? — are willing to accept.>>> snip

>>>So which route should Democrats take? It depends on whether they think they have any chance of persuading a couple of Republicans to vote for a millionaire’s tax. If the Democrats fail and don’t leave themselves enough time to pass a bill with job creation measures, they will be facing total capitulation — an extension of the high-end Bush tax cuts with nothing in return.
And what should the Republicans do? Perhaps, when faced with the final choice, a few of them will be willing to vote for either reducing the deficit or helping the economy.>>>

http://www.nytimes.com/2010/12/01/business/economy/01leonhardt.html?hp

I try not to post on here just to vent, but, wow, that things ever got to this point really burns me up. A vast majority of Americans support ending the Bush tax cuts on incomes above $250,000/yr., and the debate in the Democratic-controlled Senate is over whether we'll even be able to make a compromise on ending them on incomes above $1m? It's almost unbelievable, but so very, very predictable at the same time. I know a few of the Senate Dems are weak on this issue, but, again, it's mostly the filibuster-happy Repugs again. How can these shameless hypocrites argue with a straight face that they're the party of "fiscal conservatism" and "concern" about deficits? I can't believe how dysfunctional the system has become...

[Hannah Bell]

1. they're just bought-off liars. everyone knows it.