LET IT BURN
I don’t know why this fiscal cliff business is so difficult. Don’t Republicans realize that Democrats and the media are going to blame them no matter what happens?
Let it burn.
Tucker Carlson and Neil Patel of the Daily Caller…
Leaping off the cliff is probably the best deal Republicans are capable of getting.
Hapless Republican leaders exacerbated this crisis, but they didn’t cause it. A radically progressive tax code did. Ever wonder why government has grown larger even during periods when tax rates have gone down? Maybe it’s because the average person has no real idea what government costs. As of today, the top one percent of earners pay nearly 40 percent of all federal income taxes. The richest 10 percent pay more than 70 percent of all federal income taxes. In other words, most people have very little skin in the game.
A system like this is popular with the majority — why wouldn’t it be? — but it is unsustainable. When the bulk of the country has no stake in fiscal restraint, expectations become unmoored from reality and spending explodes.
Jim Geraghty of National Review…
At this moment, Republicans in Congress need to examine which presents a more dire threat to the country:
A) A double-dip recession driven by the sequester and the expiration of the Bush tax cuts, or
B) the public’s belief (verified through polling) that our giant debt, our ticking time bomb of entitlements, and our gargantuan government can be solved by “asking the richest Americans to pay a little bit more,” as Obama insists.
Option A is terrible, but Option B is the giant locked door blocking all of the real solutions.
So if we must have tax hikes, let the tax cuts for every income level expire and let everyone of every income level pay higher taxes. Destroy the illusion among so many voters that they can get all the government they want without paying more in taxes.
Charles Krauthammer in the Washington Post…
Why are the Republicans playing along? Because it is assumed that Obama has the upper hand. Unless Republicans acquiesce and get the best deal they can right now, tax rates will rise across the board on Jan. 1, and the GOP will be left without any bargaining chips.
But what about Obama? If we all cliff-dive, he gets to preside over yet another recession. It will wreck his second term. Sure, Republicans will get blamed. But Obama is never running again. He cares about his legacy. You think he wants a second term with a double-dip recession, 9 percent unemployment and a totally gridlocked Congress? Republicans have to stop playing as if they have no cards.
Obama is claiming an electoral mandate to raise taxes on the top 2 percent. Perhaps, but remember those incessant campaign ads promising a return to the economic nirvana of the Clinton years? Well, George W. Bush cut rates across the board, not just for the top 2 percent. Going back to the Clinton rates means middle-class tax hikes that yield four times the revenue that you get from just the rich.
So give Obama the full Clinton. Let him live with that. And with what also lies on the other side of the cliff: 28 million Americans newly subject to the ruinous alternative minimum tax.
Republicans must stop acting like supplicants. If Obama so loves those Clinton rates, Republicans should say: Then go over the cliff and have them all.
Would somebody explain to me how the people who elected Obama, who support Obama, who love Obama in the media, in the universities, who write the history, are going to write anything critical of the guy no matter what happens? Even if there is a second term recession, you’re gonna need a telescope to find it reported, just like you need a telescope to find Oprah’s network now. It won’t be reported as a recession. So what is the leverage that the Republicans have? To my mind the only leverage they’ve got is to walk away from this, to stop playing, to stop talking, to stop playing this game.
Obama has never cut a thing. Obama is never going to cut a thing.
All the tax increases on the rich that could ever be enacted are not going to help a damn thing.
Make him own it all.
Let it burn.