Comments on: Tax Impact of the Senate Cliff Compromise–Courtesy of TPC

By: R. Nemo

R. Nemo — Thu, 03 Jan 2013 02:07:54 +0000

Well, now we can all stop yelling at each other for 15 minutes. I still think taxes should have been raised on everyone. Taxes are too low in the US. But, what ever.

Now the question is will Obama refuse to negotiate on the debt ceiling as he claims. I just saw Mc cain and friends dreaming of that confrontation to leverage cuts to SS and entitlements.

We will see if the pres. has a spine now…

By: Jared Bernstein

Jared Bernstein — Wed, 02 Jan 2013 22:54:38 +0000

D’oh! thnx

By: Nooooo

Nooooo — Wed, 02 Jan 2013 16:14:09 +0000

“Compared to current law (column 1)–full sunset of the Bush tax cuts for everyone, no AMT patch, no payroll tax cut, and a lot of other unrealistic assumptions, of course everyone’s taxes go up.”

I think you mean everyone’s taxes go down.

By: foosion

foosion — Wed, 02 Jan 2013 14:14:47 +0000

>>In a rational political economy … Congress would worry more about jobs right now and deficits later. >>

In a rational political economy, Congress and the President would worry more about jobs right now and deficits later. Instead we have the ‘deficits will kill us’ crowd pivoting to ‘cutting deficits (raising taxes and cutting spending) will kill us’ without pausing to note the contradiction.

At least we have weaponized Keynesianism to fall back on. Unfortunately, it will most likely be at the expense of other programs that could do more good.

>>just in time to gear up for the debt ceiling debate>>

I believe the last word should be “debacle” not “debate.”