Politics, Not Economics, Drives Anti-Tax Stand: Albert Hunt

Vice President Joe Biden, in the heat of the high-level budget deliberations, told Republicans that their intransigence over taxes was a matter of ideology not economics. It’s also about coalitions and contributors. Congressional Republicans rejected a grand-bargain deficit- reduction plan that would have slashed spending, including on entitlements, while raising revenue. Higher taxes, charged Republicans such as House Majority Leader Eric Cantor of Virginia, would be a job killer in a struggling economy. Cantor pulled the rug out from the efforts of his fellow Republican, House Speaker John Boehner, and Democratic President Barack Obama, to strike this historic deal.

Read at Bloomberg

0 Likes Flag