You are currently viewing the printable version of this article, to return to the normal page, please click here.

LETTER TO THE EDITOR: ‘Fiscal cliff’ solution

Question of the Day

What has been the biggest debacle on Obama's watch?

View results

The White House and Democratic congressional leaders are perfectly happy if taxes go up for most taxpayers on Jan. 1 -- especially if catapulting off the "fiscal cliff" can be blamed on Republicans.

House Speaker John A. Boehner and Senate Minority Leader Mitch McConnell have properly labeled the latest plan from Treasury Secretary Timothy F. Geithner as "not serious." Some pundits, both on the right and left, along with certain Democratic politicians, seem to believe that Republicans are backed into a corner, bereft of leverage, with no choice but to cave on the issue of higher taxes on families making more than $250,000 per year or individuals making more than $200,000.

Not so. The way out is simple. The House should pass two separate, easy-to-comprehend, one-page bills relating to the fiscal cliff. The first would call for the preservation of income tax rates and current rates of taxation on capital gains, dividends and interest, for all adjusted annual income of $250,000 or less for families, and $200,000 for individuals. This is more or less what President Obama has repeatedly said he will accept.

Concurrently, the House should pass a second bill, this one calling for the preservation of all tax rates and current rates of taxation on capital gains, dividends and interest, for adjusted annual income greater than $250,000 for families and $200,000 for individuals. This is consistent with the Republicans' insistence that taxes not be raised on small-business owners, the creators of most new jobs.

Both approved bills would then be sent on to the Senate for disposition (or not, as the case may be). If neither bill passes the Senate, then Republicans in both houses can assert that it's the Democrats who forced the country over the fiscal cliff. If only the first bill passes, at least Republicans will not have abandoned their pledge not to raise taxes on the American people, regardless of income. If both bills pass, Republicans and the American people are winners.


Ocean Pines, Md.

© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.

blog comments powered by Disqus
TWT Video Picks
You Might Also Like
  • Maureen McDonnell looks on as her husband, former Virginia Gov. Bob McDonnell, made a statement on Tuesday after the couple was indicted on corruption charges. (associated press)

    PRUDEN: Where have the big-time grifters gone?

  • This photo taken Jan. 9, 2014,  shows New Jersey Gov. Chris Christie gesturing as he answers a question during a news conference  at the Statehouse in Trenton.  Christie will propose extending the public school calendar and lengthening the school day in a speech he hopes will help him rebound from an apparent political payback scheme orchestrated by key aides. The early front-runner for the 2016 Republican presidential nomination will make a case Tuesday Jan. 14, 2014, that children who spend more time in school graduate better prepared academically, according to excerpts of his State of the State address obtained by The Associated Press. (AP Photo/Mel Evans)

    BRUCE: Bombastic arrogance or humble determination? Chris Christie’s choice

  • ** FILE ** Secretary of State Hillary Rodham testifies on Capitol Hill in Washington, Wednesday, Jan. 23, 2013, before the Senate Foreign Relations Committee hearing on the deadly September attack on the U.S. diplomatic mission in Benghazi, Libya, that killed Ambassador J. Chris Stevens and three other Americans. (AP Photo/Pablo Martinez Monsivais, File)

    PRUDEN: The question to haunt the West

  • Get Breaking Alerts