Kristol: “Republicans Are Going Into Contortions” Defending Millionaires

BILL KRISTOL: The Republicans are going into contortions to try not to raise the top rate, while in fact trying to produce more revenues, which Speaker Boehner said he's for, and to produce them from the wealthy. They're so scared of being accused of attacking the middle class. I don't really care if they want to find a complicated way to get more revenues, I suppose. I think it is probably easier just to give in a little bit on the top rate.

But, they made that a matter of dogma and I'm not going to break my own sword on telling them not to break their sword on it but I'll point out, what is the one tax rate that's going up on January 1st that's no one is talking about and apparently both parties are now going to collude to let go of. The payroll tax, remember that? That was cut to 12% from 10% two years ago. It's been 10% the last two years. And I gather the Republicans have no problem — I don't know if Grover Norquist has a problem — with letting working class and middle class Americans have a 2% tax increase, and, that is not currently the Republican position that the payroll tax cut should be extended. And the administration is quietly happy to let that go, because God forbid they should actually cut entitlements from wealthy seniors or for others who benefit from corporate capitalism and big government.

So we have collusion among the elites form both parties that the one tax that is going to go up, if there's a deal of January 1st, is the payroll tax, which I think is wrong. And Republicans have a huge opportunity here to be champions of the working class and middle class, instead of screaming and yelling about millionaires.

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