Image via Politico, thanks be.
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.