The party in solid and complete control of both the legislative and administrative branches of our Federal Government had two years to deal with the tax issues they are freaking out over now. Two years of a complete lock on the entire process. Two years to do anything they wished, with nobody having any power to stop them.... except themselves.
They chose not to deal with it, despite having an utterly free road to play in. This begs the question..... why didn't they just do what they said they wanted with taxes? Why isn't the top rate already higher? Why isn't the inheritance tax already jacked up to where people lose their family homes when the parents die?
The answer.... because they wanted the issue as a baseball bat to whack the other party over the head with come election time. They knew full well what would happen if taxes went up across the board as they designed them to do ten years ago. They know it's an economy killer, but they planned on extending the current rates one nibble at a time, milking the issue every election for all it's worth... and it worked like a charm with the full complicity of a major media overwhelmingly one-party affiliated.
Till... this past election, when suddenly people stopped listening to the media, when voters suddenly started paying attention, and when the party currently in power suffered their biggest electoral defeat in generations. The American voters blasted them hard for their insane spending.... throwing more of them out of office in one shot than ever before.
The ones left are having one massive Mel Brooks moment: "Harumph! We gotta protect our phony baloney jobs! Harumph!".
That party is still in power.... and still has a complete and total lock on the process.... but they are running deathly scared of public opinion. It they raise anyone's taxes at all, they sign their own pink slips, and they know it down to their core. They are suddenly aware just how badly they have misjudged the American people, and how far out of touch with reality their party leadership really is. A leadership that would happily raise all of our taxes to support their spending plans.
The current president has not one shred of economic prowess past what he found in Econ101 back in college, but even he knows whats about to happen, I think. Despite having never run a business, met a payroll, or had to deal with more financial hardship than a paper boy, even he can see what will happen to his legacy if taxes go up on the American people right now.
The other party? The one currently without enough power to fart in church? Perhaps the best thing they could do is stand back and let the folks in charge screw the pooch on this one. No thinking person buys the media coverage anymore, and all the screaming and howling about 'hostage taking' and 'blocking action' are now being seen as the laughable and obvious falsehoods they are.
If taxes go up in two weeks, and the economy nose dives... again... the party now in power will have no one to hide behind anymore. No one buys it anymore. In fact, no one believes ANY politician anymore, about anything. There is not one single senator or congressman who could tell me the sun was shining outside, that I wouldn't get a flashlight and go check very carefully indeed.
The current 'compromise' plan between the Democrats and.... well.... the Democrats, calls for another $200 Billion in pay-offs and earmarks (to buy votes for the plan). It also has an unemployment extension that will add nearly one trillion dollars in debt over the next ten years, while not extending the unemployment of anyone currently getting checks (Surprise!). In return, the Democrats will allow the... well... Democrats, to not raise taxes on wage earners as planned, at least till the next election when the tax increases come due again.
I say..... let the taxes go up, let the economy tank again, and lets get people pissed off enough to toss the whole bunch out on their arses. In the long run, it's clearly for the best.