It has become increasingly likely and what everybody expect political pundits knows which is that there will not be a deal on taxes and spending before January 1. This means that at least some tax rates will revert to the
Clinton era levels, not a
bad things since that era resulted in high growth, high employment and a
Senator Harry Reid of Nevada, the majority leader, warned Thursday morning that there was scant time to put together a Congressional deal to avert the impending fiscal crisis and that no resolution was in sight.
Guess what, the world will not end if this happens. There will still be plenty of time to fix things, and the good news is that whatever plan is put forth the Republicans cannot say they are voting for higher taxes. Higher taxes will have already occurred. So Republicans could vote for the President’s Plan and claim they voted for a huge middle class tax cut.
Wow, just think what could be accomplished if Republicans really wanted to work for what’s good for the country and give up their policy of voting solely for political reasons.