The Boehner/Kristol strategy on the fiscal cliff

John Boehner seemed to be wimping out after the election when he said "this is Obama's moment.  We are looking to him for leadership."  But as we contemplate the fiscal cliff negotiations there may well be a barb in that position. Bill Kristol has said that the Republicans should cave on higher taxes for those making over $1 million a year - i.e., the "millionaires and billionaires" Obama talked about during the election.  After all, they can afford it as Warren Buffett keeps telling us and by all appearances most of them vote Dem anyway.  The Repubs hold the line for the $250,000 - 1 millionaires because they include a lot of small businesses and a lot of employment  Obama was really using misdirection on the Republicans during the election because taxing millionaires and billionaires doesn't actually raise that much money - only about $80 billion - while the deficit is $1.2 trillion more or less.  Obama knew the Republicans would rise to the bait...(Read Full Post)