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The Fiscal Cliff – Something for Nothing?
House GOP Speaker Boehner and President Obama earlier this month meeting on the Fiscal Cliff
What is the best deal Harry Reid and Mitch McConnell can achieve over the next 24 hours to avoid the Fiscal Cliff?
Byron York says whatever the deal, it will end badly for the GOP.
Under the most likely scenario, Republicans will get nothing — nothing — in return for giving in on tax rates for the highest-income Americans. No spending cuts, at least no serious spending cuts beyond what are already included in sequestration, would be part of the deal done on Sunday or Monday, if that is indeed what happens. . . .
[T]he bottom line is that the fiscal cliff fight will not end happily for Republicans. They will have given in on what was an article of faith — that taxes should not be raised on anybody, poor or rich — in return for essentially nothing.
But, what York does not clearly explain and Ramesh Ponnuru does over at National Review does is one LARGE failure of the Republicans.
They LOST the election in 2012 and are essentially boxed into a NO WIN scenario.
The reason we’re not going to get spending cuts beyond those already scheduled in return for tax increases smaller than those already scheduled is that current law doesn’t force larger spending cuts and does force larger tax increases.
What would Republicans get out of a deal? A reduction in scheduled tax increases; the avoidance of a fight with Obama that would be structured in a way that lets him get to Republicans’ right on middle-class taxes and posture as the biggest tax-cutter since Reagan; and that’s about it.
Republicans had two ways of avoiding this scenario. They could have passed smaller tax cuts in 2001 and 2003 but not given them expiration dates. Or they could have done better in the last few elections. At this point it’s hard to see what strategy would undo the effects on the budget from that mistake and that failure.
The House GOP can go along with whatever McConnell-Reid’s deal is or go over the Fiscal Cliff. Remember everyone will have higher tax rates if we go over the Cliff, including the AMT.
At this point, extending the Bush tax rates for everyone, except for those over $400K is probably the only choice.
When Bill Kristol announced a similar strategy a few weeks ago, everyone on the RIGHT cried sell out.
Now, it appears to be the only game in town.
So, the House GOP should accept the deal or be willing to go over the Cliff and endure the wrath of outraged American taxpayers when their first 2013 paycheck is much smaller.
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Flap’s Blog @ Flap Twitter Daily Digest for 2012-12-28
- My Daily Twitter Digest for 2012-12-28 – Locum Tenens (Temporary) Dentist – Gregory Cole, D.D.S. http://t.co/S3q1Ftib #tcot 22:07:04, 2012-12-28
- My Daily Twitter Digest for 2012-12-28 http://t.co/UVrXJDJm 21:07:07, 2012-12-28
- Political Cartoons / Obama's phony Fiscal Cliff negotiations… http://t.co/Q07RhNsr #tcot 20:16:14, 2012-12-28
- Obama's phony Fiscal Cliff negotiations… http://t.co/IWBsUZmP via @pinterest 18:57:09, 2012-12-28
- Republicans Resigned to Getting Blamed http://t.co/EITkNIG2 #tcot 18:56:53, 2012-12-28
- @politicalwire It is not over yet Taegan and nether has ObamaCare been fully implemented. Fiscal Cliff may not be the worst outcome for GOP in reply to politicalwire 18:32:41, 2012-12-28
- SUCH BS RT @politicalwire: "It's a shit show.Tax rates are going to go up on everyone, and we're going to get the blame http://t.co/ZQhHBnpk 18:19:27, 2012-12-28
- $1 Trillion Obamacare Tax Hike Hitting on Jan. 1 http://t.co/CpUD6DgG #tcot 17:35:12, 2012-12-28
- Chevron moving 800 Bay Area jobs to Texas – SFGate http://t.co/k34ghmYR #tcot 17:35:12, 2012-12-28
- Some county judges change sentencing patterns – http://t.co/5MtdTc2x http://t.co/GpkhnXXs #tcot 17:35:11, 2012-12-28
- @conncarroll Agree on AMT. Don't think Dems will offer that deal without postponing debt-ceiling for at least a year. in reply to conncarroll 17:34:17, 2012-12-28
- Let the deal making or sell out commenceRT @markknoller: Senate now adjourned till Sunday at 1pm. House returns on Sunday afternoon as well. 17:02:12, 2012-12-28
- @robertcostaNRO The House GOP will not be amored with any deal McConnell and Reid make. And, why should they? in reply to robertcostaNRO 17:01:02, 2012-12-28
- Chevron moving 800 Bay Area jobs to Texas http://t.co/k34ghmYR #tcot 17:00:35, 2012-12-28
- Some county judges change sentencing patterns http://t.co/GpkhnXXs #tcot 17:00:35, 2012-12-28
- @conncarroll What about AMT? Why would the squester be considered a win? in reply to conncarroll 16:58:38, 2012-12-28
- McConnell and Boehner at this point need to say NO and let everything expire. Make Obama and the Dems OWN it. #tcot 16:05:05, 2012-12-28
- If Mitch McConnell really thinks he can sell out conservatives on #FiscalCliff then he should be thinking primary challenge #tcot 16:02:10, 2012-12-28
- Conservatives will be gunning for McConnell and Boehner RT @samsteinhp: McConnell can't be happy with Boehner right now #tcot 16:01:02, 2012-12-28
- Obama to appear on 'Meet the Press' – http://t.co/0DyymCmz http://t.co/3UnaSwdI #tcot 15:45:04, 2012-12-28
- 16 Things About 2013 That Are Really Going To Stink http://t.co/MPz5YMAF #tcot 15:45:04, 2012-12-28
- California health exchanges – ‘Mo Money’ | CalWatchDog http://t.co/4PPa8Mw6 #tcot 15:45:03, 2012-12-28
- RT @kerpen: The only path forward is for the Senate to bring up HR8 – waiting for 149 days – amend it if it wishes and pass it. http://t … 15:30:28, 2012-12-28
- RT @robertcostaNRO: McConnell: "Hope that we can come forward as early as Sunday & have a recommendation that I can make to my conf … 15:28:44, 2012-12-28
- How about legislating instead – sheesh RT @SenFeinstein: I’ll be a guest on @FoxNewsSunday to speak about the fiscal cliff. 15:27:25, 2012-12-28
- RT @rebeccagberg: From a GOP source who was briefed on WH mtg today, "sequester is not likely to be addressed in any immediate agreement." 15:24:12, 2012-12-28
- More campaigning while USA burns – what a farce! RT @politico: Obama to appear on 'Meet the Press' this Sunday: http://t.co/9Bra5feI #tcot 15:21:32, 2012-12-28
- California health exchanges – ‘Mo Money’ http://t.co/GioAinVD #tcot 15:07:50, 2012-12-28
- Good Luck with that —> RT @jamiedupree: BOTTOM LINE – Senate leaders will try to cut a deal, present it to Senators on Sunday #tcot 15:07:36, 2012-12-28
- White House & Top Lawmakers Hold 'Fiscal Cliff' Talks, Pres. Obama to Deliver Remarks | C-SPAN http://t.co/IWqVoVAn #tcot 14:59:36, 2012-12-28
- Crapo won't fight DUI charge – The Washington Post http://t.co/Bkz8rJE9 #tcot 14:59:36, 2012-12-28
- Obama To Assign Fault; Propose Plan D, Different From Last Friday's Plan C – Live Webcast | ZeroHedge http://t.co/AqVMPFP3 #tcot 14:59:35, 2012-12-28
- Obama's presser wasn't even good optics. He has No more cards to play and nothing new to add – Bleh! #tcot 14:58:35, 2012-12-28
- Now Obama is lecturing = enough already RT @zerohedge: Nothing new or material from Obama: same old. 14:57:15, 2012-12-28
- W ith a hollow threat of a Senate vote – which won't happen RT @zerohedge: Obama repeats last Friday's scaled down proposal speech 14:55:46, 2012-12-28
- Drink! RT @zerohedge: "I am optimistic" – 5 shots 14:53:57, 2012-12-28
- Blah Blah Blah RT @jamiedupree: Obama calls talks with Congressional leaders "good and constructive" 14:53:11, 2012-12-28
- RT @cspan: President Obama statement on #FiscalCliff – LIVE on C-SPAN http://t.co/P4jJemkA 14:52:07, 2012-12-28
- Vodka Shots! RT @TheFix: RT @postpolitics: Crapo won't fight DUI charge http://t.co/8uhoaGLr 14:50:44, 2012-12-28
- Ridiculous farce RT @jamiedupree: So the Senate will try to take up a House-passed revenue bill and try to amend it with a fiscal cliff deal 14:47:10, 2012-12-28
- RT @zerohedge: Obama To Assign Fault; Propose Plan D, Different From Last Friday's Plan C – Live Webcast http://t.co/2MUcLpkQ 14:33:13, 2012-12-28
- RT @zerohedge: A week ago Obama says he is proposing a scaled down deal. Today he said he has no deal to offer. But it's someone else's … 14:33:07, 2012-12-28
- Obama urges GOP leaders to back his ‘cliff’ plan or offer acceptable alternative – The Washington Post http://t.co/FH2KZELh #tcot 14:18:15, 2012-12-28
- Bloodbath | ZeroHedge http://t.co/XDXO2EJk #tcot 14:18:15, 2012-12-28
- Here's how the Dow plunged after word that "Obama m… on Twitpic http://t.co/QX5f0Gfw #tcot 14:18:14, 2012-12-28
- RT @HotlineReid: Obama giving statement in the briefing room at 5:45pm, per WH 14:07:40, 2012-12-28
- RT @ChadPergram: Reid: There's no concrete proposals. There's a lot of different directions this could take #fiscalcliff 14:07:18, 2012-12-28
- RT @marcthiessen: RT @johnston_kelly Completely agree with @MarcThiessen: Let everyone's taxes rise and pay for the gov't you voted for. … 13:40:17, 2012-12-28
- RT @mpoindc: RT @frankthorpNBC: Boehner staffers arrived back at the Capitol and said @SpeakerBoehner is not coming back here today. 13:36:37, 2012-12-28
- Did Pelosi EVER find her mind? RT @BuzzFeedAndrew: Did Nancy Pelosi ever find her car? 13:34:25, 2012-12-28
- After Obama's last minute futility, I better run to the super market and load up on some milk and coffee creamer. #tcot 13:33:43, 2012-12-28
- Pffftt RT @rachelweinerwp: Obama called on GOP to support his plan or offer clear alternative, no new offer http://t.co/Zesprt4y #tcot 13:27:34, 2012-12-28
- But, this should come as NO surprise. WH meeting over and it is over the Fiscal Cliff RT @zerohedge: Bloodbath http://t.co/ZtmTXOsQ #tcot 13:26:53, 2012-12-28
- RT @IngrahamAngle: So Matt Damon's announcement that he's "giving up on politics" is unrelated to fact that his anti-frack film was pan … 13:16:02, 2012-12-28
- RT @philipaklein: RT @JoshuaGreen: Here's how the Dow plunged after word that "Obama makes no new offer" http://t.co/rMEpO5E4 13:15:11, 2012-12-28
- RT @tinadaunt: Polo Lounge menus… http://t.co/cfc6R2TR 13:06:28, 2012-12-28
- Feinstein Drops Gun Bill Before Police Give Report on Newtown Shooting http://t.co/fe1GvU3g #tcot 13:03:27, 2012-12-28
- Obama making demands of GOP as stock market heads downward. Over the Cliff….#tcot 13:03:20, 2012-12-28
- RT @mkraju: Obama demanding up-or-down vote on Democratic tax bill in House and Senate, w/@cbudoffbrown. http://t.co/UR9uXhbW 13:02:36, 2012-12-28
- Looks like the DJIA will close down over 150 points on the news that Obama has made no new offer in Fiscal Cliff talks now at the WH #tcot 13:01:47, 2012-12-28
- Stocks sink below 13,000 as Obama offers nothing new in #FiscalCliff talks at White House. #tcot 12:44:47, 2012-12-28
- RT @zerohedge: "No New Offer" From Obama Sends ES Sliding http://t.co/6HLExWwu 12:43:19, 2012-12-28
- RT @zerohedge: OBAMA SAID TO ASK CONGRESSIONAL LEADERS WHAT THEY CAN SUPPORT 12:43:04, 2012-12-28
- RT @zerohedge: OBAMA SAID REITERATING PROPOSAL FROM LAST WEEK ON FISCAL CLIFF 12:41:00, 2012-12-28
- RT @zerohedge: OBAMA SAID NOT TO MAKE NEW OFFER IN FISCAL CLIFF TALKS 12:40:55, 2012-12-28
- Feinstein Drops Gun Bill Before Police Give Report on Newtown Shooting http://t.co/opfVlXpr via @BreitbartNews 12:33:16, 2012-12-28
- Iran Launches "Massive" 6 Day Naval Wargame – Video Coverage | ZeroHedge http://t.co/VMK5MpIa #tcot 12:31:35, 2012-12-28
- RT @zerohedge: Iran Launches "Massive" 6 Day Naval Wargame – Video Coverage http://t.co/TZ2Iknyi 11:18:43, 2012-12-28
- GOP senators propose $1 trillion debt ceiling deal http://t.co/wlsgF5aV #tcot 10:49:14, 2012-12-28
- Tough Year Ahead for California Taxpayers and Wealth Producers http://t.co/irAIxh1K #tcot 10:17:37, 2012-12-28
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- Simi Valley businessman returns disputed $70,000 grant http://t.co/A1HTnl6O #tcot 09:41:40, 2012-12-28
- Used to be called "Dirty Tricks" RT @jaketapper: RT @AdamSerwer: How dark money helped Dems keep a key Senate seat http://t.co/xA5XObK8 09:38:56, 2012-12-28
- GINGRICH AND NOLAN: Criminal justice reform saving states billions – Washington Times http://t.co/bxEgw0cf #tcot 09:01:48, 2012-12-28
- Untitled (http://t.co/Pf66hTuy… http://t.co/JQz04Di3 #tcot 09:01:47, 2012-12-28
- Union pickets gain special protections from state justices – http://t.co/5MtdTc2x http://t.co/t25VOosF #tcot 09:01:47, 2012-12-28
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- Union pickets gain special protections from state justices http://t.co/t25VOosF #tcot 08:29:59, 2012-12-28
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- The California Flap: December 28, 2012 http://t.co/reakShtR 08:24:57, 2012-12-28
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- No charges in Countrywide VIP loans probe http://t.co/UFWW5GjW #tcot 07:43:20, 2012-12-28
- RT NO! @CSMPolitics: Immigration reform: Is 'amnesty' a possibility now? http://t.co/jrCClM2r #tcot 06:57:23, 2012-12-28
- RT @robertcostaNRO: A Repub senator tells me that a "clean," $500k tax threshold + unemplymnt would pass the Senate and House. But not s … 06:53:21, 2012-12-28
- The Morning Flap: December 28, 2012 http://t.co/tqUR6GA5 #tcot 06:38:10, 2012-12-28
- "The best pace is a suicide pace, and today is a good day to die."
–Steve Prefontaine
Happy Friday! 06:15:36, 2012-12-28
- RT @conncarroll Morning Examiner: After the cliff http://t.co/cZJCnn5w 06:01:37, 2012-12-28
- RT @ByronYork After all this, Gallup says NRA has 54% favorable rating. That's a point higher than Obama's average favorable rating 06:01:08, 2012-12-28
- As Swing Districts Dwindle, Can a Divided House Stand? http://t.co/UQqfNmjm #tcot 05:07:04, 2012-12-28
- The logic of House GOP intransigence http://t.co/RueBOWoB #tcot 05:07:03, 2012-12-28
- Why they want to go over the cliff http://t.co/T3Zdmom3 #tcot 05:07:03, 2012-12-28
- Flap’s California Blog @ Flap Twitter Digest for 2012-12-27 http://t.co/zO5YcujT 04:03:33, 2012-12-28
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