Liberals Won't Get the Revenue They Need

If the tax debate could be simplified to a liberal desire to make sure the tax burden is borne by those who can most easily afford it and a conservative desire to keep taxes as low as possible on as many people as possible, the fiscal-cliff bargain that was struck between Mitch McConnell and Joe Biden over the last 48 hours — a bargain that could still fail to pass the House, but probably won’t — seems to offer something credible to both sides.

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