The Obama administration’s tax plan—extension of Bush-era tax cuts for all Americans, but non-extension of some Bush-era cuts that exclusively benefit a very wealthy minority—is fiscally responsible only in comparison with the alternative. Which makes me agree with Neil Sinhababu that in some ways this past week’s tax cut muffed punt isn’t the worst thing in the world. Indeed, in many ways the ideal scenario is one in which at least 41 Senators filibuster the Obama tax plan and also at least 41 Senators filibuster full extension of the Bush tax cuts.
That would mean . . . all tax cuts expire.