Would you prefer the tax cuts not be extended, then?
The Administration wasn’t going to let taxes go up on the middle class. Period. And, they were desperate to move on to their real lame duck agenda.
The GOP held all the cards and folded.
This is not a good deal by any definition.
Milton Friedman posited that people act on permanent income changes, so temporary changes don’t effect long term outcomes. Until the tax rates are made permanent, jobs will be held hostage.
Estate taxes should stay zero. A huge tax increase on family businesses is NOT a conservative victory, any way you look at it.
Both of these caves damage the economy.
This isn’t scorched earth purist talk. The GOP held the cards for a better deal that could have kept the rest of the lame duck iced out. Better a deal next year than this deal now.
Argue what a great deal this is tonight, but then don’t complain about repeal of DADT and dream act, etc., that this deal paves.