Friday, February 08, 2013

I expect the Right will sooner rather than later re-focus away from lower taxes on high-earners towards lower taxes on families. The question is whether these cuts will "paid for." I would love for the big distorting income tax deductions for mortgages and state income taxes to be dropped, but that is unlikely to happen. (I expect structural federal deficits will get a lot worse before they get better.) That Democrats have agreed to keep middle-class taxes low is a victory for the Right. Republicans just pushing for spending cuts and lower taxes for the upper class are not offering any carrots to the middle class. It's a losing political strategy.

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