President Obama, playing the role of Lucy, is mystified by his reticence.
Well done, Congressman Boehner; you have more sense [faint praise that] and larger testes [even fainter praise, that] than I gave you credit for. I thought it more than likely that you’d latch onto 0bama’s promise of spending cuts tomorrow for a tax raise today, but it seems, I was mistaken. Well done for breaking the cycle of lies and culpable cupidity.
Seldom have I been so glad to find myself in error. I’m glad because I place the good of the Republic before the gratification of my ego. It’s a pity and a shame the President of these United States does not share that practice.
Obama wants $1 trillion in taxes on top of what he’s already signed.
Review and Outlook | The Wall Street Journal
So the fondest Washington hopes for a grand debt-limit deal have broken down over taxes. House Speaker John Boehner said late Saturday that he couldn’t move ahead with a $4 trillion deal because President Obama was insisting on a $1 trillion tax increase, and the White House quickly denounced House Republicans for scuttling debt reduction and preventing “the very wealthiest and special interests from paying their fair share.”
How dare Republicans not agree to break their campaign promises and raise taxes when the jobless rate is 9.2% and President Obama’s economic recovery is in jeopardy?
We think Mr. Boehner is making the sensible choice. No one wants to reform the tax code more than we do, but passing a $1 trillion tax increase first on the promise of tax reform later is a political trap. If the President were really sincere about reform and a willingness to keep the top tax rate at or below 35%, he’d negotiate that at the same time he does a debt deal. Mr. Boehner will have a hard enough time getting any debt-limit increase through the House, much less one that raises tax rates.
I question the wisdom of increasing taxation during a depression period. Trusting the Democrats to subsequently keep their promises of tax reform tomorrow for tax rate increases today is insanity, and I’m glad to see the Speaker of the House walk away from the “deal.”