Signaling confidence that Democrats will stop blustering and cave on tax cuts, Senate Minority Leader Mitch McConnell predicted today that all of the Bush era tax rates will be extended temporarily.
"I think it's pretty clear now taxes are not going up on anybody in the middle of this recession," McConnell said on Meet the Press. "It isn't going to happen."
Well, gee, since he asked so Nicely I think the only charitable thing we can do is NOT GIVE THEM SQUAT!
Unless of course, they drop to bended knee - and BEG.
Now we all know that White House is negotiating some kind of deal, and it's looking like it might be a 2-fer. Extend current tax rates for a year or two, while also extending unemployment benefits for a year (or maybe two). I'm thinking if Paris Hilton is going to get her Bonus Tax Cut for Tchotke's and a new Bedazzled Droid then the Unemployed should be able to keep paying their mortgage and utility bills.
And that does seem to be the plan right now, and if anything the ones who seem to be pre-caving are the GOP.
President Obama himself all but signaled that the Democrats lost this fight during a statement about a recently-announced Korea free trade agreement yesterday. "We need to redouble our efforts to resolve this impasse -- in the next few days -- to give the American people the peace of mind that their taxes will not go up on January 1st," Obama said. "It will require some compromise, but I'm confident that we can get it done."
The White House is pressing the GOP to allow an extension of unemployment benefits and the tax breaks in the stimulus bill in exchange for an extension of income tax rates. According to the Huffington Post, Obama will allow the cuts to expire if the GOP refuses. On that score, McConnell claimed there's no impasse.
"I think we will extend unemployment benefits," he said.
Ok, so let's think about this a second with some clarity. In exchange for leaving the tax rates right where they are now, McConnell seems like he's completely open to extending unemployment that's been blocked for a week and directly threatens the livelihood of as many of 2 Million Americans in the coming weeks?
If the WH can cut a deal to stop THIS from continuing...
That's not a bad deal.
But if we can pull that off, why not go for broke and tell the GOP to quit playing games. Democrats should only allow the current tax rates to be temporarily extended not only if we receive an Huge extension for jobless benefits, but also an UP OR DOWN VOTE for all major pending legislation from the Dream Act to DADT and START during the lame duck session.
That's the deal I'd like to see.
Give us Unemployment and a fair shot at these other items or the tax cuts GET IT, see? The Republicans have shown us exactly what they want to buy, the only question is how much they're willing to PAY FOR IT. We know what they are, we just need to negotiate price.
All or nothing McChinless, all or nothing.
Especially after this douche nozzle had the gall to say this...
McConnell laughably claimed that the failure of the Bush-era tax rates to create a vibrant economy over the past 10 years shouldn't be held against it.
"Imagine how much worse it would have been if we'd had a higher tax rate," he said.
Imagine how much worse? I don't have to imagine, I remember what it was like when the top marginal rate was 39%.
WE HAD A BALANCED BUDGET!
WE HAD A BOOMING ECONOMY which created 24 Million Jobs.
The tax rates you're so desperate for only netting 1 Million Jobs during Bush's ENTIRE EIGHT YEARS.
Not much imagination required to see what that was like, or what's happened since.
This is what the Bush Cuts did to incoming revenue.
This is what Bush Cuts and the TWO Bush Crashes did to the Deficit.
This was always going to come down to deal making.
But if the GOP is Hell Bent on continuing down this same course, I don't have a problem with giving them some rope on the Paris Hilton Bonus Cut temporarily as long as we get as much actual benefit for the American People in the deal as possible.
Anyway, that's how I see it.