Obama Proposes Tax Hikes Now but Rate Cuts Later (Maybe)

I guess he just can't live with the idea of rich people getting away with 3% more of a cut then other Americans.

"Let's let those go up," Obama told Bloomberg Television in an interview, referring to tax rates for the wealthiest Americans.

"And then let's set up a process with a time certain, at the end of 2013 or the fall of 2013, where we work on tax reform, we look at what loopholes and deduction both Democrats and Republicans are willing to close, and it's possible that we may be able to lower rates by broadening the base at that point."

In other words when those talks break down in 2013 he will have his rate hikes in place already. Pretty sneaky way of ramming through tax hikes. It does give Boehner some wiggle room to say that the GOP will bite the bullet and allow tax hikes in exchange for cuts in 2013. Whatever the case negotiating by brinksmanship is a crappy way of doing business.