Republican Senate Minority Leader Mitch McConnell sent what appears to be a counter-message to earlier statements by some Congressional republicans that tax increases were “on the table” to combat the looming fiscal cliff that is now just a few weeks away. Is this an example of actual in-house fighting among Republicans, or some version of Good Cop – Bad Cop as negotiations between Democrats and Republicans begin in earnest regarding what to do with tax rates and out of control government spending?
(Mitch McConnell has this much respect for Democrats’ ever-present willingness to raise taxes on Americans)
EXCERPT (via The Hill)
McConnell slams the door on raising tax rates in deficit deal
…“We’re insisting on keeping tax rates where they are, first and foremost, to protect jobs and because we don’t think government needs the money in the first place,” McConnell said on the Senate floor.
…The fate of the Bush-era tax rates — which will expire for all income levels in January — has dominated the debate over the slew of tax increases and spending cuts that are set to begin next year.
“The longer Democrats keep saying it, the longer it’s going to take to come up with an agreement,” he said. “The only reason Democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of liberalism.
“Their aim isn’t job creation, they’re interested in wealth destruction,” he said.
He noted Republicans have proposed capping tax deductions by reforming the tax code and argued that would be a better path because it would broaden the tax base.
McConnell said restructuring tax deductions would “probably have a smaller negative effect or even a positive effect on the amount of labor supply.”
Somewhat topic-related is how strongly McConnell has come out swinging on this. He was the one our Republican Insider singled out earlier this week as having done some “heavy lifting” regarding the Benghazi issue. McConnell is not known to be so publicly forceful in his statements, so his use of the term “wealth destruction” in relation to policies of Barack Obama and the Democrats is doubly interesting given RI’s very recent context. -UM