Republicans weigh swallowing tax hike...

Republicans weigh swallowing tax hike on the wealthy

Posted in the Minneapolis Forum

Bob Schmahl

Saint Paul, MN

#1 Dec 6, 2012
Republicans weigh swallowing tax hike on the wealthy

Source: Reuters

While Republican leaders in the House of Representatives insist that raising tax rates on the rich is an impossibility, some Republican lawmakers now see it as inevitable to avoiding the "fiscal cliff" of severe tax hikes and spending cuts set to start January 1.

Congressional aides, who asked not to be identified, said Republicans are losing the public relations battle over keeping low tax rates for the rich and are getting battered by President Barack Obama and his fellow Democrats in Congress following their November 6 election victories.

On Capitol Hill aides often play an important role of communicating what members are thinking but cannot say themselves. In recent days, increasing numbers are putting out word through news organizations that Republicans now feel they cannot win on tax cuts for the wealthy, at least not now.

Without a deal by December 31,$600 billion in across-the-board spending cuts and tax increases, which are so severe that they likely would shove the economy into recession, are scheduled to begin.

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The amazing thing is that House Republicans still continue to publicly take the stand that tax increases to the rich are off the table and that it is preferrable to cut Medicare. And, this is a political winner?

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