Only One Party Has Serious Deficit Reduction Plan

Suddenly, Republicans want an unfunded payroll tax cut, while the president’s budget is committed to tax equity.

Obama’s election year budget, at a time of divided government, is no doubt in large part a campaign document. And it has several items the president is going to press hard on that play well politically, including the “Buffett rule” and returning to taxing dividends at the same rate as ordinary income. The key for any real deficit hawk to understand is that right now, Republicans won’t support anything that raises taxes on the rich — which is to say they’re not supporting a meaningful path to lower long term deficits. They didn’t last year, and they won’t this year. No matter what their initial rhetoric claims.

By: Alan

Alan Colmes is the publisher of Liberaland.