Faux uncertainty on taxes
December 30, 2012 3 Comments
Ramesh Ponnuru says it’s “ridiculous that we don’t know what our tax rates will be in a few days”. But that’s not true at all. We know perfectly well what our tax rates will be: they will be whatever tax rates were before the Bush Tax Cuts™ were passed. Unless something changes.
Something could always change. But let’s not pretend there’s not a default course of tax rates. There is, and that default course is that tax rates are going up. Moreover, this is evidently what President Obama and the (D)s want, given the side of the bargaining table they have decided to sit on. There’s not much uncertainty here except to the extent that Obama & (D)s appear inclined to try to pass a tax cut from those pre-’01 levels (a ‘permanent’ one, in retarded modern parlance). They do not appear so inclined. Moreover, the American public doesn’t seem to want them to either, given how they voted.
So, let ‘em have it, and make sure they understand: tax rates will go up. On everyone. Because of what Obama and the (D)s want.
Pretending there’s a huge amount of uncertainty about this only muddies the waters.