In the reality-based world we taxpayers actually inhabit, we are very happy to be able to keep more of our money. Let me repeat: our money. Not the government’s money. This is a vital distinction that is usually lost when being discussed in the mainstream media. Or by Democrats, who mostly seem to think that the government owns us and will, in its munificence, give us what it thinks we need.
Key example? Just this morning, Senator Claire McCaskill, Democrat of Missouri, sometimes touted as a “moderate” Democrat, tell us that the “rich” will be getting a “bonus” because they get to keep more of what they earn. There is also this new-found concern for the deficit. Concern that was scarce on the ground when the Democrats were voting for trillion-dollar additions (non-stimulating stimulus and the Great Health Care Budget Massacree of 2010).
McCaskill is merely typical; hardly the worst of the breed. But moderate? Not in any sane political universe. She is also up for re-election in 2012. Which is when this “temporary” extension of the current tax rates will expire under the deal. Perhaps she will be singing a different tune in the run up to that election, when her seat is on the line.
Democrats were stupid to agree to only a two-year extension. It is guaranteed to be a major issue in the 2012 election, and Dems will need from fancy footwork to pretend they’re not in favor of higher taxes. Which, of course, they are; it’s in the political DNA.