It's Not Too Late

It's not too late for House Republicans to regroup and pass an extension of the Bush tax cuts along the lines of Speaker Boehner's "Plan B" before yearend.  With those tax cuts scheduled to expire on January 1, each representative will soon be faced with the Hobson's choice of either going along with a bill which will be introduced and passed in the Senate adopting the president's obsession with extending the tax cuts only up to $250,000 in income, or blocking the bill and being blamed for the economic consequences of automatic tax hikes on everyone and anything else that happens as a result of Obamanomics.  Speaker John Boehner made a valiant attempt to go on the offensive in the fiscal cliff negotiations as we recommended two weeks earlier.  Where we had suggested actions that did not concede tax increases for anyone, his Plan B took the more conciliatory path of allowing the Bush tax cuts to expire for income in excess of $1 million.  Facing...(Read Full Post)