Republicans are priming their base with the mathematical fact that taxes will have to be raised. Bill Kristol has implicitly blown a hole in the Republican fantasy that somehow simply closing loopholes can bring us fiscal responsibility. For Bill Kristol to come out with the statements in the video below means that he understands that the country has changed and that reality based dialog even on Fox News must begin.
This is no accident. We must remember that another ultra conservative, Ben Stein, went on Fox News before the election and said taxes would need to be raised. He seemed almost fearful and apologetic as he stated the fact.
Bill Kristol stated three specific points that need to be highlighted.
- Increasing taxes on the wealthy will not hurt the economy. He finally told the truth that even under Reagan with a 50% marginal tax rate the economy was robust.
- Republicans will have to cave to tax increases.
- Four presidents in the last century have won more than 50% of the popular vote twice. They were Roosevelt, Eisenhower, Reagan, and Obama. As such the budget will look more to the liking of Obama than to Paul Ryan. Elections have consequences.