At CFIF, I explain why we’re all still better off, from a tax standpoint (obviously not from a spending standpoint) than we were at the turn of the millennium. It’s also true that we are almsot no worse off on spending than we were a week ago.
Here’s the truth:
Surely, then, you would be shocked to learn that every single American would emerge from the battle paying lower taxes on comparable income than they were paying in 2000. Every single one.
For every income level below the top marginal rate, the lower taxes would be substantial. Those formerly paying 31 percent would pay 28 percent. Those in 2000 paying 28 percent would pay 25. Many of those who were paying 15 percent would pay 10.
And the top rate, both in 2000 and in 2013 set at 39.6 percent, now will not kick in until a much higher income than in 2000.
There’s also this, which is probably the most important thing of all:
Finally, the two intervening months give conservatives time to regroup and refurbish tactics and communications, without threat of an automatic tax hike. Those two months may be the best benefit of the whole deal.
As I will explain in the coming week or so, not only is there leverage for conservatives going forward, but there are strategies and tactics that can be used to make the most of that leverage. I will be outlining some of those strategies and tactics.
We’ve pulled off a tactical retreat to a new, better terrain. Shame on us if we don’t use the new terrain effectively.
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