Posts tagged: tax deal
President Barack Obama joins former President Bill Clinton as he speaks in the briefing room of the White House in Washington on Friday. Clinton implored Democrats to back the tax-cut deal that President Barack Obama negotiated with Republicans. MSNBC story here. (AP Photo/J. Scott Applewhite)
Question: Would you rather have Clinton or Obama as president in dealing with the split Congress next year?
The proposed tax deal is one of those classic bitter pills that we’re presented with in American politics. It’s a classic compromise. Democrats have to swallow the extension of the Bush tax cuts on the wealthiest Americans. Republicans have to agree to a 13-month extension of Unemployment benefits without paying for it. The two parties have agreed to split the difference on the Estate tax, with it coming back in 2011, however at a lower rate and a higher income threshhold. For me, the 13 month extension of Unemployment benefits really is a bit of a bridge too far/Adam’s Blog. More here.
Question: Doesn’t the net benefit of this tax deal seem to be that we’re taking in less money and spending more — a lose-lose proposition?