CNN says the Tax Policy Center estimates that a married couple with two kids under 13 and a household income of roughly $75,000 could end up paying about $2,600 more in federal income taxes next year -- if the largest tax increase in history is allowed to take place.
Raising taxes in a depressed economy is insane, so everyone is hot to sign on to the "tax compromise."
The "cost" of the compromise is estimated at about $850 billion. But $550 billion of that is based on the revenue that the higher taxes would bring.
In other words, not raising taxes and taking more money from American families is a "cost."This is the crazy way politicians think.
The real cost is the $300 billion in pork and other spending Democrats want to tack on as the cost to Republicans of preventing the tax increase.
Obama says this is a good deal. So, obviously, it is not.
Bill Clinton tells Democrats they should vote for it because the new Congress can enact legislation that will be even better for conservatives.
Is there any doubt that the wise course is to wait, let the Democrat tax increase take place, and then for Republicans to rescind it and put in place a tight clamp on spending?