Tax Rich Republicans

Republicans have been forced into a Hobson’s choice of either letting the Bush tax cuts expire for everyone or agreeing to a tax hike on the top 2 percent of income earners (not to be confused with “the rich,” who have already made, inherited or married their money).

If Republicans object to the Democrats’ hitting job creators with a tax hike, three things will happen: Taxes will go up for everyone; Republicans will be seen as the “party of the rich”; and the inevitable economic collapse will be blamed on Republicans.

If Democrats were merely trying to raise taxes on the rich in a vacuum, it would be easier for Republicans to oppose raising anyone’s taxes. But because the Bush tax cuts are only temporary, unless the high-income earners’ taxes go up, everyone’s taxes revert to pre-Bush tax rates.

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