PUSHING MUSH:

Obama to Propose Tougher Tax Regime for Wealthy (DAMIAN PALETTA and CAROL E. LEE, 9/18/11, WSJ)

The White House will likely try to use the plan, which aides call the "Buffett Rule" after billionaire Warren Buffett, to create a populist frame for the debate over deficit reduction that is likely to again consume Washington for the next few months. Democrats have pushed the White House in recent weeks to assert itself in the debt-ceiling talks in an effort to steal momentum away from Republicans.

The idea, which has been raised before by Democrats, is likely to be a non-starter with Republicans who had consistently opposed raising tax revenue as a way to tackle America's debt. The move is also evidence of how the work of the Congressional supercommittee, which is charged with devising a plan to cut the deficit, has become inextricably linked with the 2012 election season.

Few details about how such a plan would work could be learned, including whether there would be a new tax bracket at this elevated level. The White House is likely to urge congressional negotiators to use the concept as part of their talks, but isn't expected to go into great detail about how the new tax rule might work, people familiar with the plan said.

In other words, they've got nothin'.

Posted by oj at September 18, 2011 9:38 AM
Tweet   

Follow @brothersjudd