President Obama has been increasingly vocal in recent months about his support for an extension of the payroll tax break approved late last year, hoping that it would help boost economic demand. Congressional Republicans have also been increasingly vocal about their opposition -- in effect, the GOP is pushing for a middle-class tax increase to kick in early next year.
I argued the other day that Republicans are probably bluffing -- they want the same cut as Obama, but will only approve it if they can trade it for something else. I was promptly told by a variety of people that I'm wrong, and that the GOP is genuinely hostile to any tax breaks that don't benefit the wealthy almost exclusively. I'm beginning to think those who called me out on this have a compelling point.
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