NYT Editorial: Trading the estate tax for START and some questions for Obama

[BeyondGeography]

...Until Monday night, both sides were silent on the fate of one of the biggest high-end tax cuts of all — the estate tax on multimillionaires and billionaires. Now Mr. Obama seems to have given in to largely Republican demands on it.

Perhaps he wanted to placate the main proponent of gutting the estate tax further, Senator Jon Kyl of Arizona, who has also been working to block a vote on the New Start arms control treaty. Yes, the Republicans were also holding the nation’s security hostage to their relentless drive for tax cuts for the wealthy.

All of this only validates the Republican strategy of obstruction, and invites more. Senator Mitch McConnell, the Republican leader, has never wavered in his stance that all Bush tax cuts should be extended. Mr. McConnell and the Republicans will undoubtedly now push to make the cuts permanent.

Mr. Obama said on Monday night that he still believed extending the Bush tax cuts for the wealthy was a bad idea. He predicted that it would be undone in two years when it becomes apparent to everyone that the country can’t afford it. The president needs to ask himself why he couldn’t make that case now — and how he plans to change his approach to governing so he doesn’t get trapped this way again.

Mr. Obama also said that “we cannot play politics at a time when the American people are looking for us to solve problems.” Unfortunately, the Republicans felt no such compunction. He should have fought harder.

http://www.nytimes.com/2010/12/07/opinion/07tue1.html?hp