” The inside line from Washington is that there will be no Fiscal Cliff deal before the end of the year.
That’s not surprising. Unfortunately, it always seemed unlikely that our politicians would agree to any vote that could be framed as their voting to “raise taxes”–which any deal before December 31 could have been framed as.
The more likely scenario seemed to be that politicians would wait until taxes increased automatically on January 1 and then heroically vote to cut them–at least some of them.
And that’s still my bet about what will happen in January.
But just because it seemed likely that politicians would be ruled by “politics” instead of pragmatism doesn’t mean this is something to be proud of.
And let’s be clear about what has happened in the past two months.
What has happened is that the political party that has based its entire existence on never agreeing to a tax hike of any kind has essentially agreed to tax hike for the entire country.
By not accepting the Democrats’ offer to extend the Bush tax cuts for ~98% of Americans, the Republicans have agreed to let taxes rise on ALL Americans…”
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