It's the Budget, Stupid

In Butch Cassidy and the Sundance Kid, the antiheroes are cornered by the Pinkertons on a sheer cliff looming hundreds of feet over a white water river.  Sundance (Robert  Redford) is paralyzed with fear at jumping off, finally admitting "I can't swim!"  Butch (Paul Newman) hoots his reply, "Are you crazy? The fall will probably kill you!" And so we come to the fiscal cliff.  As one of the 2%, this taxpayer will pay lots more if the Bush tax cuts go off the cliff. It's a horrible result, worse even than the President's demand to soak the top two brackets. The President has neatly crafted the standoff as the Republicans "holding the middle class hostage" to tax cuts for "the rich."  The first part may be right, though more than a little hyperbolic, but the latter is not. Predictably the Republicans have not explained why they are taking hostages: denying higher taxes on anyone is crucial when there is no other way to guide and control spending by the Executive...(Read Full Article)