Wednesday, December 19, 2012

Boehner's Plan B From Outer Space

Speaker Boehner issued an ultimation on the fiscal bluff this afternoon. It's his "Plan B" or nothing. And what is Mr. Boehner's Plan B you ask?

Nearly half the people who make between $521,000 and $1 million get a tax cut on the average of $240. Only a little over a quarter of the billionares "would see a tax hike, of around $97,000." As for the rest of the us?
The upshot: around one fifth of households in the lowest two quintiles (up to $60,000) would see an average tax hike of more than $900. Around 13 percent in the middle quintile (from $64,000 to around $107,000) would see an average tax hike of nearly $800.
I don't know where this plot twist in the kabuki is supposed to lead, but if it takes us over the cliff, I'll probably thank Boehner for giving us the push. The latest "compromise" offers I've seen from the White House have stunk worse than a barn full of rotten eggs. Hoping this is a theatrical device that allows Boehner to look tough and gives the White House an out on signing off on a BFD which is this case means bad fucking deal.

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