It’s Time To Tax The Rich

That’s the essence of what Vice President Joe Biden said following the Democrats’ big wins on Election night. Speaking to a pool of reporters on Wednesday, Biden said Democrats clearly have a “mandate” on tax reform. And this issue of taxes will have to be settled soon, as Congress returns for its lame duck session next week and the so-called fiscal cliff looms at the end of the year. Democratic Senator Patty Murray, who was the architect of the Democrats election strategy in the Senate, argued that Democrats now have a much stronger hand after the election as they head into negotiations with Republicans over what to do about the expiring Bush tax cuts and automatic spending cuts coming down the pike.

Murray told reports, “If we can’t get a good deal—a balanced deal that calls on the wealthy to pay their fair share—then I will absolutely continue this debate into 2013.” In other words, Democrats aren't caving this time. Unless the Republican Party is still living in an alternate reality – which is likely – they have to accept that they failed at making President Obama a one-term President by stifling the economy. They should take Tuesday’s election as a rejection of their obstructionist agenda and strike a deal with Democrats to raise taxes on the wealthy.

If they don’t – and if they continue their economy-crashing agenda – then they’re committing political suicide and, tragically, risk taking the country down with them.

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