Quote of the Day   Leave a comment

Ezra Klein “Here`s what happens if we go over the cliff. You get more than $5 trillion in tax increases off the bat. And now, here`s what happens if we pass the sainted Simpson-Bowles plan. You`ve heard the Simpson-Bowles, the big bipartisan debt commission plan. They have $2.6 trillion in tax increases. President Obama`s latest offer to John Boehner has $1.2 trillion in taxes. That is half as much, less than half than, in fact, as Simpson-Bowles, and less than a quarter of what is in — simply going over the fiscal cliff.

Now, I think the tax increases in Obama`s offer are too little. But still, they are what they are. And it`s something to remember as we reach the edge and you hear a lot of complaints about the tax side of Obama`s offer.

What he`s asking for in terms of tax increases is not that radical, it is way less than if we don`t reach a deal.”



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