The word of the day is that Obama and the GOP are nearing a deal on tax cuts.
The general outline is pretty simple: The GOP will agree to extend unemployment benefits, Obama will agree to a two-year extension of the tax cuts for the rich, and the tax cuts for everyone else will be made permanent.
This is being spun as Obama caving.
Please! This is the GOP caving. In two years, when the tax cuts are up for “debate” and there are no middle-class tax cuts to tether them to, taxes on the rich are guaranteed to shoot up.
The GOP should play hardball and force Obama to take one of two choices: All tax cuts are extended, or they all expire.
As we’ve said before, even if taxes jump for everyone, and even if it’s ostensibly the GOP’s “fault” Democrats will be to blame, and it will hurt Obama’s re-election chances.
If the GOP wants to play good politics, it should fight.
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