Prepare To Fight Back, Obama

The second topic that may re-emerge is one that caused the president grief with his own base last year: the Bush tax cuts. Even though they expire at the end of 2012, and the failure to act?the one thing Congress does well?will lead to a slight escalation of marginal tax rates for the wealthy, the White House is still going to be caught in the same vise as it was in 2010. Failure to act will also raise tax rates for the middle class. With an anemic economy and marginal job growth, the president will not want to seek a middle-class tax increase. So the debate will be framed just as it was last time. But this time, perhaps, the White House will embrace the critical argument for equity that has so far been largely ignored. Perhaps, emboldened by the success of Occupy Wall Street, President Obama will be more willing to fight. Perhaps the president could turn tax cuts for the rich into the defining issue of the campaign.

Source: http://feeds.slate.com/click.phdo?i=778e59d7b69e21d98257a7ea2ae127bd

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