Bernie Becker of the The Hill writes that:
And a few Democrats, it should be said. To include Nancy Pelosi who:
This makes it pretty clear that the president – and his party – lack the stomach for a big fight over raising taxes to appease the government’s lust for money.
But if you have only two years left to make your moves, then why not go long.
If the point is to raise money and take it from the rich then why not:
* Go after the mortgage interest deduction above a threshold of, say, $300,000.
* Eliminate the state and local tax deduction, hitting big blue states like New York.
* Do something on carried interest.
These would be big, bold moves that would raise the stakes dramatically and would hit the wealthy, especially in blue states. But if the opposition from people like Nancy Pelosi and Charles Schumer is enough to intimidate the White House on the taxing of college savings accounts, then these things have no chance.
And the president will continue to play small ball while he talks Super Bowl.
