NYT editorial: Time for Obama 'to abandon his hopes of reaching a grand budget bargain' with GOP

[BlueStreak]

26. Well, there are certainly some things that need to be fixed

Before Reagan took office, business taxes represented about 30% of the total Federal income taxation. Not businesses pay under 10% of the total. There can be no argument that these tax cuts were for competitive reasons because if all businesses face the same taxation, then there is no competitive advantage or disadvantage.

Of course, like everything else, this change was not done on a fair, equitable basis. It is overwhelmingly the gigantic, multi-national corporations that are evading their fair share. Small businesses have seen tax cuts, but not a cut of 2/3 of their obligations.

If businesses paid even 20% income tax (including taxing the money that is being kept offshore, Enron-style, there would be no deficit today -- actually a big surplus. So this needs to be fixed, but there isn't any possible scenario -- no bargain grand enough -- that would ever make that happen with these teabaggers. Likewise on climate change progress and just about every other major issues out there.

That's why I say the only thing worth doing at this point is running hard to capture the House in 2014. And I see absolutely zero evidence that Obama has even the slightest interest in that. He is, in fact, a lame duck already. The only thing of significance he is likely to do in the next 3 years is name a center-right replacement for Ruth Bader Ginsberg.