Mark Thoma:
Economist's View: More on Broadening the Base versus Raising Tax Rates: The Democracy in America blog at The Economist responds to recent posturing on taxes by Glenn Hubbard and John Boehner:
Elections have consequences, redux, by M.S: John Boehner [and] Glenn Hubbard, formerly Mitt Romney's chief economic adviser…. Mr Hubbard has a fundamental and difficult realization ... to make, to wit, that the candidate he supported lost the presidential election. The proposals he embraces here, like those outlined by Mr Boehner, were advanced by Mr Romney during the presidential campaign…. Barack Obama won the presidential election running on an explicit platform of hiking the top marginal income-tax rate… Americans want the wealthy to pay a higher tax rate…. Republicans appear to think that by merely stating that they are not in principle opposed to the federal government getting more revenue, they are entitled to be congratulated for their conciliatory approach…. What we're seeing here, in sum, isn't compromise; it's posturing…. [T]he idea that Democrats will accept the implementation by Barack Obama of Mitt Romney's economic philosophy is ridiculous. ...
