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
balanced budget.
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.
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