When I was growing up in the Upper Penninsula of Michigan we used to have a contest we called nipple twisting. Two guys would stand about two feet apart and start twisting each other’s nipples. The winner was the last one to give up. It was frankly stupid and painful and I often wondered who the real winner was and who the real loser was. Unfortunately this is remarkably similar to what is going on the United States Congress right now with regard to extending the Bush tax cuts.
Democrats, with the help of the main stream media, are going to say Republicans are willing to increase your taxes so they can give a big tax break to the richest 2% of Americans. They will say that during a time of huge deficits, we cannot afford to give a big tax break to the rich folks.
Republicans are going to argue that they shouldn’t raise taxes on anyone during a down economy. Both sides will point at the other and blame them for the huge tax increase coming January1, unless something is done. If the Republicans do not handle this well, they could easily get the full measure of blame for the resulting disaster. I can just hear people like Anderson Cooper moaning into the microphone how Republicans were willing to increase the taxes on everyone just so they could pay back their fat cat Republican contributors. Unfortunately there are a lot of people in the country who are just stupid enough to buy that argument.
We are in the early stages of nipple twisting and both sides think they can handle the pain. We will soon find out who will blink. Republicans who anticipate Democrats blinking should be reminded that they rode the progressive horse over the cliff into the worst political defeat in the last 50 years. This is like playing chicken with someone who is too stupid to realize they could get killed. Sometimes the most insane person wins.
One thing is certain, if Republicans cave on this, it will be the worst case scenario. They will look weak and there will be enormous damage to the economy. On the other hand if they don’t do a better job of getting the message out, they may lose anyway. I think it is possible that Obama will simply refuse to sign any legislation that includes keeping all the tax cuts in place. That would be insane, but so was the decision to try Khalid Sheik Mohammed in a civilian court in New York. Republicans should have made these tax cuts permanent years ago when they had a majority in both the House and the Senate. Now they are reduced to a high stakes nipple twisting contest.
Right now it looks like the Republicans will win, in spite of themselves. But never underestimate the Republican’s uncanny ability to snatch defeat from the jaws of victory. Keep in mind that Meg Whitman was defeated in California because of nanny gate and George Allen was defeated in Virginia because of saying “macaca.” In addition, waiting for Democrats like Obama, Reid and Pelosi to yield to common sense has never worked in the past. All three have repeatedly shown a remarkable willingness to remain fully committed to acts of incredible stupidity.
TDM