Artist’s conception of John Boehner press conference yesterday.
Stole my headline from David Dayen on FDL.
Boehner is calling for an across the board rate cut, paid for by (and actually with a revenue gain from) closing loopholes and deductions. All the while, he wants to “reform” entitlements to reduce the cost to government.
Now where have I heard that before? Oh yeah, it’s the Mitt Romney platform. The one defeated at the polls.
…He also alludes to the idea that lowering tax rates will increase economic growth and therefore tax receipts. This is precisely the claim that was debunked by the Congressional Research Service study of 65 years of tax rates…
Time for the Dems to muster their inner Go Go Yubari: “You call that begging? You can beg better than that!”
Remember the alternative to negotiation now is to go over the oh-so-scary “Fiscal Cliff.” Which is really more of a gentle slope. Unless Boehner’s begging skills improve greatly, that’s what they ought to do.
Exit polls revealed that 60 percent of voters favor raising tax rates, which means even some people who voted for Romney want to end tax cuts for the rich.
UPDATE: Back To Work: The Big Issues Congress And Obama Have To Tackle Next – Or maybe the House of Representatives will decide to shut down the government again.
In other words, Eric Cantor believes elections have no consequences. From the comments:
The solution for Obama is simple, ruthless, risky and painful….. Do nothing. Wait until January. Don’t sign a thing, no stop-gaps, temporary extensions of the soon-to-expire tax cuts, just… WAIT.
As Nobel Prize-winning economist Joseph Stiglitz argues in his most recent book, The Price of Ineqality, the continued redistribution of income toward the rich is not only immoral and a cause of social unrest, it is economic stupidity. The economy is weakened when people don’t have enough money in their pockets to buy what they need. To use the excuse of the recession and phony crises in order to rob Americans is nothing short of criminal. The working people who elected Obama did not cause the financial crash. They have been squeezed and squeezed in the last four decades to the point of desperation. They deserve a break.