Is the 20 year old no-tax pledge Grover Norquist and GOP candidates dutifully signed over the years now broken. Senator Saxby Chambliss of Georgia is a major Republican figure to announce he is willing to consider tax hikes as a means of deficit reduction.
Senator Chambliss says he places the fate of country above a pledge.
Principles are great to have but signing these pledges is of dubious value. Where has it gotten us ?
I would hope people I elect govern using their own judgment and free will. A deal needs to be cut, and getting rid of all these expiring tax rates would go a long way towards ending the endless annual debates over extension.
For starters get ready for a thousand or two extra in taxes when the "temporary" FICA cut expires. Look for the current federal rates to be held for those under $500K, and some kind of change in capital gains. Maybe some deductions gotten rid of, but not home mortgage interest..that is sacrosanct for the moment.
Republican candidates should be able spurn the Norquist pledge in the future, but given the need for big money to run campaigns, candidates will still feel obliged to sign on to policies they don't agree with.
Top Republican senator ditching Norquist anti-tax pledge - NYPOST.com