WASHINGTON — White House officials and Congressional Republicans said Sunday they were closing in on a deal to temporarily continue the Bush-era tax cuts at all income levels, while bitterly frustrated Democratic Congressional leaders began exploring whether they would have the votes for such a package. [...]
Rather than extending the tax rates only on income described by Democrats as middle class — up to $250,000 a year for couples and $200,000 for individuals — the deal would also keep the rates for higher earners, probably for two years. In return, Republicans said they would probably agree to extend jobless aid for the long-term unemployed.
Two reasons why this is a trap. First, I wouldn't trust the Republicans to vote in favor of extending unemployment benefits. They're not good-faith actors. Second, the tax rate extension will pile onto the deficit. And the Republicans will absolutely continue to attack on the Obama administration and the Democrats on the deficit -- including the deficit hit from the tax rate extension.
Admiral Akbar, please...
Adding... Screw the rich. They don't pay the marginal tax rate anyway. And by the way, as predicted, the Democrats are totally silent about their gotcha votes on extending the middle class tax cuts. Good job, gang. Way to stick it to them.