Analysis: Unlike fiscal standoffs in 2011 and 2012, Democrats have not pressed for higher taxes on the wealthy even though it is a winning issue.
, Biden’s party simply declared there would be no negotiations over the full faith and credit of the U.S. debt.
“Had Republicans’ demand for spending reductions been immediately countered with a White House demand for revenue increases, a legitimate deficit reduction negotiation could have ensued. But now the White House is negotiating against itself, and in the words of Benjamin Franklin, necessity never made a good bargain,” Rep. Dean Phillips said Thursday.from Rep. Alexandria Ocasio-Cortez for handicapping that a final bipartisan deal would only get about 150 Republican votes in the House.
This muted approach to tax policy comes after Democrats moved from their fearful days of being labeled “tax-and-spend liberals,” back in the 1980s and 1990s, to going on offense by promising to raise rates on the wealthy. , but the focus of those remarks came on how the House plan would lead to deep spending cuts on local programs.During a phone call earlier this month, White House aides floated about a dozen different ideas to raise tax revenue, including ending many tax“We’ve brought them up in the negotiations,” Schumer told reporters Thursday.
“If you look at the massive cuts under the Trump administration, those were actually a detriment for the Republicans because they gave all the tax breaks to the very wealthy and powerful corporations, and middle-class folks were left out,” Sen. Gary Peters said Thursday.found that 44 percent of Americans said Obama’s plan to raise taxes would help the economy, 22 percent said it would hurt, while the rest said it would make no difference.
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