Tuesday, November 27, 2012

Wondering why Republicans are willing to compromise?

Image via Politico, thanks be. 

Democrats are pretty powerful in these "fiscal cliff" (it isn't a cliff at all, and is irresponsible media reporting to call it such, but we'll get to that later today or tomorrow) negotiations, and there is a very simple reason - they are using Republicans' own tax mantra against them.

Democrat Rep. Jerold Nadler (NY-8 - actually where I used to live in Manhattan) described it aptly on Up With Chris Hayes two weeks ago. It is well known that Barack Obama favours the Bush tax cuts expiring for income above $250,000 per year, and his stance in these "fiscal cliff" negotiations has not wavered from this point. 

Well, on 1 January, ALL of the Bush tax cuts will expire for everyone (that's part of the "fiscal cliff"). If Democrats are prepared to play chicken, they could wait it out, let the tax cuts expire for everyone, and then introduce a bill to continue the Bush tax cuts for all income up to $250,000. 

And dare the Republicans to vote against a tax deduction. 

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