Democrats are getting squirrelly. They know that November is looming and that means that many of them better get their resumes up to date because they know that the American people are ticked. As such, some Democrats are beginning to backtrack on taxes. We are mere months away from some of the largest tax increases that we have ever seen and combine that with the expiration of the Bush tax cuts, it could be devastating to not only the American economy but also to the Democrats chances of holding on to their seats.
The so-called revolt is comprised of three Democratic senators: Kent Conrad, Evan Bayh, and Ben Nelson. They want to extend all the Bush tax cuts. That includes taxes on the wealthy, or the top personal tax rate, the investment taxes on capital gains and dividends, and the estate tax.
So is this revolt a game-changer, or merely wishful thinking?
With a strong pushback against the revolt by President Obama, Treasury man Tim Geithner, and House Speaker Nancy Pelosi, right now it looks like wishful thinking. But with Democrats getting badly paddled in various polls, you never know.
Or… perhaps they are merely making an attempt to look as if they are fighting for the re-enstatement of the Bush tax cuts so that when they are on the stump they can plead with their constituents that they just lost the good fight.