Mark Warner “Disappointed in Tax Deal”

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    According to Mark Warner, “This basically takes a traditional Washington approach of, ‘Let’s add to the deficit and kick the can down the road.'” I tend to agree. What’s the overall strategy here? How do we reconcile the deficit commission’s work with extending the unaffordable Bush tax cuts?  As for short-term “stimulus,” again I’m not a huge fan if it’s just scattershot, throw a few dollars here and there. On the other hand, if it’s serious reinvestment in our nation’s crumbling infrastructure, in a clean energy economy, etc., that’s a completely different story. And, of course, any tax cuts need to be progressive, not regressive, as the Bush tax cuts for the wealthiest Americans most certainly are (not to mention the estate tax, which is the most progressive tax ever invented and should have its rates raised significantly, not lowered).

    • If you really care about the deficit, and I believe that Warner really does care, this should be a wake up call to him that most Republicans simply don’t.  Oh, they talk about it more than Democrats do, sure, but when it comes to getting what they want (in their case, tax cuts) EVERYTHING else falls to the side.  Perhaps Warner will remember that this deal isn’t only Obama’s deal, but also the very Republicans he was insisting not more than few weeks ago were concerned with the same things that he was.  Bottom line — they weren’t.

    • leedynamo

      This is not a good POLICY deal.  It is a somewhat better political deal, but not so great on that level either.  We have take our lump & move on.

      I hope we move quickly back to a path of responsible fiscal management coupled with sound investment in green infrastructure.  As much as possible anyway.  The Administration should do it unilaterally as much as possible or muscle it through the Senate to gain leverage.