When Doing Nothing Makes Sense

Yesterday, Eric Cantor had a tantrum and stormed out of the budget talks between himself, Boehner and Obama that have been ongoing for weeks. Today, we get a look at why: he simply couldn’t bear to live in a world where we didn’t give corporate jets favored tax status. It’s been known for a long time that the GOP is holding the country’s economy hostage over the Most Pressing Issue Of Our Time™, the deficit. Of course, the reason Eric ran off in a huff is that the right is absolutely opposed to anything and everything that could even remotely be considered a tax increase. Never mind that raising revenue is the only way to reduce the deficit. Setting aside the utter hypocrisy of the GOP on this issue, let’s assume for a moment that running a balance the red is our biggest challenge at the moment. At the very least, the Republicans would be correct in thinking that we simply have to do something quickly, right? Well…

The numbers don't lie...

…not exactly. It turns out, if we let the Bush tax cuts expire (as they were designed to do last Fall, before the extension was passed), then that’s it. The deficit simply goes away because of the increased revenue. Keep in mind, that this would mean a return to Clinton-era tax rates for the whole country, wealthy and worker. I seem to recall things were pretty good during the 90s but perhaps I’m misrembering…

In any event, Boehner & Co. think they have a winning strategy, pushing the US right up to the deadline of our debt limit and threatening a default. This would be catastrophic and they know it, therefore, they aren’t serious about any of this. But if the Kabuki play continues and we let the preening egos prance without actually touching anything, then maybe we might see the GOP’s worst nightmare for 2012: a recovering economy.

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One Response to “When Doing Nothing Makes Sense”

  1. T.W. Albert Says:

    Any sane country would have ousted the GOP as traitors and incompetents a long time ago. They willfully harm the country for their own cheap, short-term political ends. In Europe they’d be hanged.

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