UPDATE: Obama administration denies it all. But I would point out that this is exactly what happened with the public option. The Obama administration publicly stated that it would support a public option, then backed down, then got called on it, then vehemently denied backing down, then backed down in the end.
I would be surprised if a similar future did not await the tax cut sunset.
Just, wow. Just, no. Just, I don’t even, I don’t, I can’t, I… damn:
President Barack Obama’s top adviser suggested to The Huffington Post late Wednesday that the administration is ready to accept an across-the-board continuation of steep Bush-era tax cuts, including those for the wealthiest taxpayers.
That appears to be the only way, said David Axelrod, that middle-class taxpayers can keep their tax cuts, given the legislative and political realities facing Obama in the aftermath of last week’s electoral defeat.
And I just threw up in my own mouth.
There’s just nothing Democrats like more than coughing up the ball. You had a great issue! You could have had a great showdown in the Senate. “We’re trying to keep a middle class tax cut, while keeping taxes high on the super-rich! Republicans aren’t! See, they haven’t changed!” The debate itself would make the deficit hawks appear ridiculous, and open up the discussion of why the rich aren’t paying their share. Not to mention, the tax cuts will expire on their own anyways! They only get extended if the bill gets through both houses of Congress.
There’s an argument to be made that going against tax cuts is always stupid (an argument that is wrong, of course). But the tactical point is, the Obama administration just made clear that it gave up the tax cut fight for nothing. Do you think the Republicans will give one inch, back down one iota, hold back from gutting health care reform and financial reform one second? If you do, then the Stockholm Syndrome of the beltway is truly unstoppable. “Compromise” only works when the other side gives something back in return.
Nothing like this kind of news to wake you up in the morning. Bluuuuuuuuurgh.