November 22, 2011
THE GUY TAKES PRIDE IN "LEADING FROM BEHIND"...:
The Choice: Squabble or Govern (Robert Samuelson, 11/21/11, RCP)[T]he committee's Republicans opened the door to compromise by abandoning -- as they should have -- opposition to tax increases. Sen. Pat Toomey of Pennsylvania proposed a tax "reform" that would raise income taxes by $250 billion over a decade. First, he would impose across-the-board reductions of most itemized deductions and use the resulting revenue gains to cut all tax rates. Next, he would adjust the rates for the top two brackets so that they'd be high enough to produce the $250 billion. All the tax increase would fall on people in the top brackets.
Senate Democratic Whip Dick Durbin called Toomey's proposal a "breakthrough." With good reason: It came from a "no new taxes, over my dead body" Republican who had signed Grover Norquist's pledge against any tax increases. But the details of Toomey's plan are murky, and many Democrats claim that it would cut taxes for the rich. Nor did Democrats respond with an equal concession: a willingness to deal with Social Security and Medicare.
As is known, these "entitlements" are the central cause of long-term budget deficits. From 2005 to 2035, their cost will nearly double as a share of national income, projects the Congressional Budget Office. How big a government do we want? What's the balance of fairness between young and old? How much should other programs be reduced or taxes raised? Many Democrats duck the fundamental policy questions and reject any benefit cuts.
Only President Obama can start such a debate. He has the bully pulpit, but he hasn't used it.
...so why would anyone think he'd suddenly start leading from the front?
On the other hand, the shape of the deal is so obvious to everyone it doesn't require much leadership at this point, just a few public statements to provide cover for both parties, the GOP on taxes and Democrats on entitlements.
Posted by oj at November 22, 2011 6:30 AM
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