Stopping at the Cliff
Well after much kicking and screaming, the GOP figured it really had to let higher taxes hit the rich and it’s about time. I’m not big on increasing anyone’s taxes, but taxes today are at a very low level for the rich and we have bills to pay. I like this graph the most:
What would the GOP say at a 91% top tax rate like in the 60s? (Yea, that’s too high)
One of the best comments during this mess was from Norquist via Twitter:
The Bush tax cuts lapsed at midnight last night. Every R voting for Senate bill is cutting taxes and keeping his/her pledge.
Man talk about a lot of BS.
So if everyone would have voted at 11:59 it’s not OK but at 12:01 it’s OK, even though the effect is the same. Grover is just trying to bend over backwards to keep his hold on the GOP and it should show the mindset of these folks and why nothing can get done in DC.
It’s a start. Spending needs to be cut for sure and taxes might even have to be raised more over time. I have to laugh at another quote from Grover:
When the Dems wake up they will realize they just made most of the Bush tax cuts permanent and lost their leverage for the next 4 years.
Really, it’s not like taxes can’t raise more. I think there is room.