Question:
If the Democrats refuse to allow the extension of the Bush Tax Cuts without raising taxes on the “rich” and the Republicans refuse to allow any tax increases at all, what happens?
You’re right, it would be bad. I guess we should just roll over and play dead once again. It’s worked so well for us in the past.
The Republicans pass a bill that extends tax cuts for everybody under 250k with minimum payments for everybody so everybody has skin in the game. Then they pass a bill that extends the tax cuts for all small business Chapter S between 250k and 1 million. They then pass a bill that closes tax loopholes for everybody knocking down a million plus. Next bill lowers C Corp tax rates while closing all kinds of loopholes and special giveaways. Then send them to the Senate one at a time.
Same for spending.