Thursday, November 11, 2010

The Huffington Post finds a way to break absolutely no news at all...

I've never been a big fan of Howard Fineman, but I was at least hoping that his journalistic ethos would rub off on the Click-addicts at the Huffington Post.

No such luck.

Here's the Headline:

White House Gives In On Bush Tax Cuts

And here's the relevant section:

But there is just such a change on taxes.

Although the president "took the position he felt was the right position" -- favoring a continuation of the cuts only for families earning up to $250,000 -- Axelrod portrayed this "optimal" stance as unrealistic in the lame-duck Congress that begins next week.

For one, time is not on the administration's side. All of the tax cuts, enacted in 2001 and 2003, will expire at the end of this year unless Congress acts. The Republicans in effect "built in tax increases," Axelrod said. And separating out different categories of tax cuts now -- extending some without extending others -- is politically unrealistic and procedurally difficult, he added.

"We don't want that tax increase to go forward for the middle class," he said, which means the administration will have to accept them all for some as yet unspecified period of time. "But plainly, what we can't do is permanently extend these high income taxes."

In other words, the White House won't risk being blamed for raising taxes on the middle class even though, arguably, it is the GOP's refusal to separate the categories that has put Obama in this bind. The only condition, at least initially, seems to be that the tax-cuts-for-the wealthy not be extended "permanently."

What does that mean?

Well, not a lot, and a lot closer to nothing at all. This is the same thing we've been hearing about for, literally, months now. Don't wanna extend the Tax cuts for the Rich. Will probably wind up temporarily extending Tax Cuts for the rich in order to get Tax cuts for Middle Class.

Now, I don't like it...but it's not news.

Huffington Post? Call me when you break something.

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