Wednesday, November 28, 2012

The Fiscal "Cliff"

Frankly, the President should just hold his ground and force Republicans to allow the tax cuts on those making more than $250,000 to expire. All it will do is push rates from 36% to 39.6% - what they were under President Clinton. President Obama has all of the leverage and it is the right thing to do for the country.

He is going to use the bully pulpit of the presidency to talk to the American people. If Republicans want to allow taxes to increase for 98 percent of the country and for the severe defense cuts to take place just so they can extend the tax cuts for the wealthy then let the American people decide if that is worth it. They will cave.

Let's say that they don't cave and we go "over the cliff." The President can just hit them over the head every day with the fact that he wants to cut taxes for 98 percent of Americans and that Republicans are putting our national security at risk. That would make them even weaker than they are right now.

We'll see if the Republican leadership in Congress is truly that stupid.

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