Tax fight pits Bush vs. Obama

[Geee]

The Hill:

The looming Senate debate on taxes sets up a showdown between George W. Bush and President Obama on tax policy — and the former president could come out the winner.

The Senate is expected to hold dueling votes on extending the cuts before they expire on Dec. 31, and Bush’s policy could get more support in the Democratic-controlled chamber.

Obama’s proposal to extend tax rates for middle-class families but allow taxes to rise for families making over $250,000 a year is given almost no chance of passing the upper chamber.
Meanwhile, Senate Republican Leader Mitch McConnell (Ky.) is pushing an across-the board extension of the cuts.

Senate insiders think the most likely compromise is a two-year extension of all the cuts, which formed the economic centerpiece of Bush’s presidency.

“What’s likely to happen is there will be an extension of the tax cuts for everybody for a period of time,” said Sen. Byron Dorgan (D-N.D.) in a CNN interview Sunday.

At least seven Senate Democrats have backed away from Obama’s plan and voiced support for extending Bush’s tax policy for another two years.

So far no Senate Republican has endorsed Obama’s plan.

[pollyannaish]

My money is on Bush on this one. That said, I am skeptical about the ability of the current "soldiers" to hold it together on this. Keeping my fingers crossed.

[AceRimmer]

I'll take Dubya and the points.