As anyone watching the news knows by now that the major topic of discussion is the coming expiration of the Bush/Obama Tax cuts and the mythical “fiscal cliff”. President Obama has said that he will not extend them again and that any budget agreement from congress that does not raise taxes on income over $250,000 will be vetoed. So far, he’s sticking with that story. Over the weekend Treasury Secretary Timothy Geithner was dispatched to the Sunday talk show rounds to pitch the budget proposal while the president took to the road and social media to sell it to the public. Needless to say the Republicans roundly rejected the proposal with House Speaker John Boehner calling it a “La-La-Land offer.” That’s a real adult response.
Former policy analyst to Presidents Ronald Reagan and George H. W. Bush, Bruce Bartlett, who lost all his conservative credibility when he made the case that the Bush/Cheney administration agenda didn’t make any sense, joined the discussion of the Grover Norquist‘s tax pledge for Republicans and the pro’s and con’s of increased taxes. Gov. Dannel Malloy, Democrat of Connecticut; Veronique de Rugy, senior research fellow at the Mercatus Center at George Mason University; Elizabeth Pearson, fellow at The Roosevelt Institute; and Dedrick Muhammad, senior economic director at the NAACP join host Chris Hayes and Mr. Bartlet to discuss the “story of the week”: the tax battle