Journalists who are so sure they can predict the future they ignore what the bill actually does are doing it all wrong. 1/https://twitter.com/jonathanweisman/status/934140491997773824 …
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Journalists who worked day and night from Christmas through New Years in 2012-13 speak from experience. We saw Obama & the Dems let the top 2 brackets lapse, reinstated the estate tax (albeit a smaller one) but steadfastly refused to let taxes rise on incomes below $200k.
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Where were you, Seth?
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Every tax rate cut but the top two was extended as was the doubled child credit, refundability and the marriage penalty change. That was like 90% of the cost.
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I was on the Hill when the Bush tax cuts passed, at CAP during fiscal cliffs of 2010 & 2012 - (though as I recall I was at a wedding in Austin that New Years). In any event...
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It’s undeniable that the Bush tax cuts were mostly extended. But for the reasons I laid out, these are not the Bush tax cuts. (E.g. Bush tax cuts would have just expired rather than raising taxes on people in long term.)
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And this is not the Republican Party of 2010 or 2012, even. And who knows where we will be, where deficits will be, what other fiscal legislation will pass before 2025.
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Of course, totally fair to try to game out future scenarios. But if we’re looking past 4 corners of the bill, then we really need to include what Rs say in their budget about how they’d pay for tax cuts, ie Mcare/Mcaid cuts. Those are *less hypothetical* than tax cut extensions.
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With respect, that sounds like a positive version of bothsidesism. Given what we've seen 2015-present, we can't expect the GOP to behave responsibly going forward. I.e., the 2012-3 experience can't be trusted.
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Important difference: "Obama & the Dems". They clearly operate under a different code of honor than the Republicans do.
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But that entirely depended on a certain set of Dems being in power. You make it sound as if the outcome that occurred was the only possible outcome. Republicans in power would have made much different policy choices. Why not take politicians at their word as what they value?
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GOP proposes to raise taxes on the middle class & poor & not the 1% because they believe they can politically get away with that, not bc they plan to give cuts to middle class; that's way too generous to the GOP & fails to be based in any action they actually take
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