Many liberal voices have come out against the tax deal. And there are ample reasons to dislike it. The Estate Tax thing is pretty bad, but honestly, is that really the "line in the sand"? The extension of Bush tax rates for the rich is awful, but is that really the "line in the sand"?
The compromise is working its way through Congress, words enough to bring cold shivers to anyone. Obama's deal is certainly not binding on House Democrats, but Senate Democrats are obviously more attuned to the realities of that body's inability to get anything done than is the House. The House does not "do" compromise. The Senate can only do compromise.
If you want a good example of what a better tax bill has to go up against, look at DADT. Susan Collins says she opposes DADT and is willing to see it repealed. But she's not willing to vote for cloture. Or something. Looks like Harry Reid (still not a pornstar name) has nailed her to the wall on a specific amount of debate. Not sure. Some wondered why Reid brought DADT to the floor when Collins said she would join the filibuster. I think he was reminding the House about the Republicans 41 seat Superminority.
Anyway, I think there are three areas that Democrats will try and amend the tax bill. I am not confident they will succeed in achieving any of them and they could scuttle the bill entirely.
First, they will go after the Estate Tax thing. Adjust the rates perhaps or lower the level at which it kicks in. Graham - who passes for moderation in the GOP these days - has said that's a non-starter. So where that goes, we'll see.
Second, they might try Schumer's millionaire tax, but it already failed once. There simply isn't anyway to get an increase in taxes on the wealthy through the Senate. Especially now that Obama's deal is out there as a fallback position.
Third, they might try and pull out a payroll tax reduction. While this would put money in the hands of the people who need it most, the worry is that it will become permanent and a back-door way for the GOP to finally kill Social Security. That's an interesting idea, but Obama would certainly veto any extension. Still, they might try to end the $108K cap on payroll taxes to help pay for it.
I just can't see where the votes are for raising taxes on Richie Rich. Not Estate taxes, not income taxes, not payroll taxes.
As I said elsewhere, the time to have forced this issue was during the election season. Repealing the tax cuts for the rich is a popular position. Perhaps forcing the GOP to defend tax cuts for Wall Street would have reminded some of those independent voters who swung Democratic, why they abandoned the GOP in the first place.
As of now, the calender is running out. Maybe DADT or the DREAM act can slip through. Maybe the Democrats can tie raising the debt ceiling to this tax plan, so that the GOP Crazy Caucus doesn't hijack the country in the spring over this issue, too.
A lot has been made about Obama's verbal backhand to the Utopian Left. Frankly, I think he was right, but I get where that's made people upset. But he was also much more critical of the GOP, calling them - rightly - hostage takers. And I do worry about what sort of hostage they might have with the debt ceiling.
I hope they manage to improve it at the margins. But I also hope we avoid raising taxes and throwing people off unemployment in the middle of an effective depression.
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