Tom Toles for June 28, 2011
Transcript:
Mitch McConnell: We can't talk about tax hikes. We have a spending problem, not a taxing problem. Obama: It's not negotiating if you take everything off the table. McConnell: We don't have a negotiating problem, we have a capitulation problem. So, now? Or soon?
Simon, it probably will, because we got in this mess partly through the annual $1.4T deficit that Obama continues to ring up every year. I suspect a compromise will be reached that increases taxes on the super rich individual but leaves them where they are for small business and LLCs. That would make more sense and scratch the itches of both parties.