jMint on the tax increase “compromise”

“So it wouldn’t hurt my feelings at all if we pushed this whole things into next year,” he said. “There are a lot of people advocating for it, saying this is the best that we can get. But I’ve talked to a number of the conservatives today who have grave concerns. I know a lot of them won’t vote for it unless it’s paid for. I don’t think the Democrats are going to cut spending enough to pay for this.”

“I’m glad the President recognizes that tax increases hurt the economy. I mean, I guess that’s progress. But frankly, Hugh, most of us who ran this election said we were not going to vote for anything that increased the deficit. This does. It raises taxes, it raises the death tax. I don’t think we needed to negotiate that aspect of this thing away. I don’t think we need to extend unemployment any further without paying for it, and without making some modifications such as turning it into a loan at some point. It then encourages people to go back to work. So there’s a lot of problems with it. I mean, and frankly, the biggest problem I have, Hugh, is we don’t need a temporary economy, which means we don’t need a temporary tax rate. A permanent extension of our current tax rates would allow businesses to plan five and ten years in advance, and that’s how you build an economy.” read on