GOP Signals Fold on Tax Hikes
Folks, this was predictable, too. The Republicans are establishing the mechanism to cave on tax increases. McConnell, we’ve got the sound bite, ready now to talk about revenues as long as there’s talk of spending cuts, but you and I know that there won’t be any of those because Obama doesn’t have to cut any spending. That’s the last thing there’s gonna be, and so Obama wants $1.6 trillion in new taxes.
Now, here’s something to think about. How’s he gonna get that — and he will. See, this is the thing that we’ve gotta realize. This is going to happen. It may be 1.2. He is going to get this. Boehner, we had our note from the chief of staff for Congress say Boehner said let Obama lead and see where it takes us. McConnell says we’re fine and dandy on the revenue side now. The Republicans are the ones that always, “Okay, we lost the election, we’re gonna have to moderate our tone and our beliefs,” and all this. So we’re on the verge here of watching the cave. Benghazi, too. I hope the Republican Party understands what’s at stake for them politically in making sure that there is a single select committee on this. If you have a bunch of different committees looking into it or no committees looking into it, it’s gonna blow the opportunity. There has to be a single select committee on this. Not just for the political value of it, but because it’s the right thing to do.
We got four dead Americans, and it is a large scandal, which, of course, takes us back to Petraeus. No, let me finish one thought. How do you get $1.6 trillion in new taxes? Now, politics like this is quite simple. The Republicans have sworn in every campaign that they’re not gonna permit a tax increase. The Democrats have said, “We’re gonna raise taxes on the rich.” Well, raising taxes on the rich and even getting rid of deductions is not gonna get you anywhere near $1.6 trillion. It’s not gonna get you anywhere near $800 billion, just raising taxes on the rich. So how are they gonna do it?