As America gets closer and closer to the so-called fiscal cliff, tough decisions will be required.
If America goes off the “fiscal cliff,” the most likely reason is a pledge taken by many Republicans to oppose any increase in taxes.
U.S. Sen. Jeff Sessions, R-Mobile, on Tuesday reiterated he would abide by that pledge, regardless of the consequences.
He’s not the only Republican who feels that way, but there is hope the country can avoid the crisis as other Republicans are considering a compromise. What an approach — choosing the country over partisan politics. Compromise and putting country first used to be the hallmark of politics in the United States.
In this case, many leading Republicans are recognizing the pledge of no new taxes is too simplistic. It does not, for example, permit the elimination of deductions enjoyed by the wealthiest Americans without a corresponding drop in their marginal tax rates. Given the political chicanery that created many of the deductions, this effectively locks in the legalized bribery that is rampant in Washington.
If Republicans cannot make sensible concessions on increasing revenue as a part of the effort to reduce the deficit, the automatic tax increases and spending cuts that take effect Jan. 1 could cause a recession. The struggle to climb out of the Great Recession already has been costly enough.
Who wants a bigger hole to climb out of if a compromise cannot be reached by Jan. 1?
Sessions and others who say it’s my way or no way need to re-think their loyalties.