I was faced with a decision this week on what to watch on TV - the State of the Union address of Nick Jr (of Dora, Diego, Yo Gabba Gabba, etc.).
I chose the one with more reality and less fantasy - Nick Jr.
Seriously, I read the "tax portion" of President Obama's speech the next day. Once again, he wants to eliminate the Bush tax cuts for families making more than $250,000 per year, and increase the tax rate on capital gains.
Hey, this may be a good idea. It may even be a GREAT idea - but it has NO CHANCE of passing Congress this year.... so why bother even mentioning it and wasting time on a fantasy?
Someone could argue that he is "angling" for 2013 and trying to get more Democrats in the Senate and House.
Sure - let's see - he would need to retake control of the House (doubtful, even very doubtful at this point, from this perspective in January of 2012) - AND - get at least 60 Democrat senators (from the current 53) to override any filibuster in the Senate. The latter is impossible absent a miracle... actually, I can't even think what that miracle could be, but it certainly isn't "angling" on the State of the Union address for votes.
Obama's best shot at raising taxes is getting reelected and then letting the Bush tax cuts expire at the end of December, 2012. That would raise taxes on everyone. Let a few months go by in 2013 while letting this tax hike settle in - then see who is willing to negotiate something different.
And if there are no negotiations - look on the bright side - that tax hike is estimated to be worth $4 trillion over the next 10 years - which would substantially lower the US debt growth rate and might even bring back the AAA credit rating the US government lost in August of 2011.
Now, back to Nick Jr....
