It is totally a political problem.
EVERYBODY, including the rats, knows that the meaningless, drop-in-the-bucket tax hike on “the rich” does next to nothing to address America’s debt and deficit and is, rather, a purely symbolic concession demanded by the rats for the sole purpose of dividing and ultimately destroying the GOP. The rats need the GOP to abandon its most consistent and important core principle and agree to a tax hike - - ANY tax hike - - and then they will beat the GOP to death. The American public will never believe the Republicans again, and the party will die.
This is why Ubanga wouldn’t bite on the “close loopholes and cap deductions” crap in lieu of a definite rate hike. Even though the revenues would be about the same, with the “close loopholes and cap deductions” plan the Republicans would be able to talk out both sides of their mouth when trying to convince the ignorant chattering class that they didn’t raise taxes. Ubanga wants something more concrete, something the Republicans can’t lie their way out of.
We went over the cliff years ago.
And just what is that?
You cannot make a tax rate a principle. Tax rates are a dependent variable of spending.
The Republican tax "policy" has been corrupt since the Great Compromise of 1986, now on its last legs.
The notion that cutting taxes could cut spending, by "starving the beast", was plausible when Howard Jarvis and David Stockman were advocating for it, but that was 35 years ago. The theory has been proven false.
It's false because of the Reagan-O'Neill Compromise of 1986 - Republicans could cut taxes, Democrats could spend as much as they wanted, using bills of Credit and inflation to make up the difference.
Now we are at the end game of 1986. The dollar is ruined, the demand for "funding" has never been higher, and the peoples' willingness to "contribute" has never been lower.
And what is the Republican policy about all this? Is it "cut spending by $1.6 trillion immediately"? No, it is not.
Is it "taxation beyond the limits of the Constitution is theft"? No, it is not.
It's a pathetic loser whine to the effect that raising tax rates will hurt "the economy", as if they have done anything - ANYTHING - since 1986 to advance natural resource extraction, exploitation of those resources, invention, and manufacturing - the only important parts of any real "economy".
The GOP is a corpse, and it's time for a decent burial.
EVERYBODY, including the rats, knows that the meaningless, drop-in-the-bucket tax hike on the rich does next to nothing to address Americas debt and deficit and is, rather, a purely symbolic concession demanded by the rats for the sole purpose of dividing and ultimately destroying the GOP.>>>>>>>>>>>>>>>>
As an historian I disagree with your conclusion that taxing the so called wealthy class is merely symbolic.
Obama means to exercise the IRS in a catchment of administrative intimidation of the wealthy, by audit, pre judgement asset seizure( alowed under the Taxc Code), and executive fiat.
Obama cannot establish his much desired Socialist America as long as there is a functional investment class which creates jobs and wealth in the USA. Just as in Germany and Italy in the q920s and 1930s, the4 fascists movements there had to subjugate and destroy the wealthy class so they could seize control of the economy and dictate who made wealth and when. In addition the fascist movements got their cut in what can be seen as a kind of legal fascist extortion.
This is why Obama wants the tax on the rich so badly. He has positioned the IRS to agressively intimidate, audit and prosecute the wealthy class of the USA.Obama has prepared the IRS by extra hires, and has armed and ammoed them up.
If the GOP supports any plan on taxation of the so called wealthy, then you will see the beginning of the end of a free economy in the USA, and the IRS will be the tool that accomplishes it.When one understands the fascist movements of Europe and applies their historical social trends to Obama, he becomes absolutely predictable.
The GOP needs to defend the entrepreneurial class of America. If the GOP does not, then the economic engine of the greatest nation on earth will be subjugated by Nationalist Socialism and destroyed.