I can hear it already: 'House Republicans prefer to go over the fiscal cliff with over 90% of Americans paying more taxes than extending tax rates for 99.81% of Americans.'
I am thoroughly disappointed at the House GOP for their all-or-nothing approach. The Representatives who refused to vote for Plan B are denying political reality: They are ignoring the fact that taxes on the rich are going up one way or the other. President Obama is in until 2016 and will not sign a bill to extend rates for people making over $1 million; in fact, his current target is $400 thousand to move from 35% to 39.6% on the top marginal rate.
House Republicans have just shown that they would rather every rate to go up on January 1st than to extend them for 99.81% of income earners. They insist that millionaires, .19% of Americans, not pay more taxes, or else they will kill the negotiations.
This is both politically foolish and irrational.
It's politically foolish because Republicans have just affirmed Obama's accusation of us during the campaign: That we are beholden to millionaires. Earth to the House GOP: 53% of November 6th voters support raising taxes on the rich. You are acting against the will of the people.
It is irrational because the all-or-nothing approach is impossible until at least 2016. We Republicans cannot get everything we want. They have the Senate. They have the Presidency. We lost. Obama won. Elections have consequences. We are the minority party. Accept it. Deal with it. Make the best of it. Do the best we can with the House.
Democrats run Washington. Republicans will lose EVERY TIME if we try to get 100% of what we want (as in trying to extend rates for 100% of income earners). Why will we lose every time for now if we go for 100% of what we want? Because Democrats have at least 66% of the power in Washington. Be glad they have only that much after the big November 6th Democratic win.
Speaker Boehner claimed in his presser this morning that some Republican rank-and-file would not vote for Plan B because they were afraid they would be criticized for increasing taxes.
What do these members think the bottom line will be? What world are they living in? Nothing they can do will keep 100% of tax rates where they are. If they don't come to a compromise with Obama (to extend rates for over 99% of Americans), do they not realize that everyone will pay more taxes next year? They will be responsible for tax increases on EVERYONE, not just the rich, if they insist on keeping the top marginal rate at 35% for millionaires. If they refuse to compromise and agree to rate increases on the rich, if they obsess over their ideological doctrine so much that we go over the fiscal cliff, the most vulnerable Americans (the vast majority of us), the middle class and the poor, will pay more, and it will be their fault.