If the GOP’s Leader, Grover Norquist, is right – taxes will reset to the pre-Bush tax cuts rates.
Republicans talking about possible deals are full of it according to Norquist. Why? because they are imagining deals in which $1.00 of tax increases is matched by $10.00 in cuts to Medicaid.
Speaking on NPR yesterday, Grover Norquist said:
“He (Lindsey Graham) is not going to vote for a deal because the kind of 10-1 ratio deal he’s talking about with real, iron-clad spending cuts is never going to happen.”
So there you have it. Taxes should reset as long as President Obama keeps his word.