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Wednesday, September 01, 2010


What is wrong with this headline?

Democrats unlikely to repeal tax cuts for the rich
So writes McClatchey today. But there is no need to "repeal the tax cuts for the rich" or anyone else because they expire. This means that any legislation in Congress will have to be affirmative legislation to extend tax cuts. And, I remind you, if you've been paying attention to activities in Congress this year, we all "know" that it takes 60 votes to get something passed in the Sentate. That means it only takes 40 Senators saying "no, I won't vote to extend tax cuts for the rich" and those tax cuts will simply expire. Which means that if just 2/3 of Democratic Senators refuse to vote for such an extension, it won't happen.

So why is this headline significant? Because this is the "line" that we're going to be fed. We're going to be subject to an attempt by the media and politicians to make us forget that the tax cuts expire automatically, and make us think that they have to be "repealed" and oh, by golly, the Democrats just don't have enough votes to do that.

All that being said, do I think the Democrats will extend tax cuts for the rich? Let's just say I wouldn't bet my hard-earned money against it.

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