Originally Posted by alnorth
Obama was not shy about raising taxes, it was one of the centerpieces of his campaign. Thats what the people voted for, and he has the mandate. The Republicans would have lost the house too if they did not have the enormous advantage of redistricting following the 2010 wave.
If the GOP wont budge from letting the top bracket go to Clinton-era rates, then Obama will probably let the tax cuts expire, and THEN talk about tax cuts with the GOP.
The Republicans have no leverage. Zero, none whatsoever.
We'll see. You forget how bad a leader the President can be. Nancy Pelosi doesn't have any ability to help him now.
I think it's very possible that the Republican House will be able to win public support by offering to increase revenues from the rich by closing loopholes instead of raising rates. Afterall, this was the suggestion of the President's own, bipartisan deficit commission (Bowles-Simpson).