From Norman over at OMT, we get the scoop on why 2006 won’t be 2004:
However, rather than waiting until all of the other major players put their plans out in the public eye, Chichester went first (I had in bass-akwards this morning). This is not typical behavior. He also seems to have left his plan open to debate and compromise — another break with past behavior.
And unlike in the past, there may be a genuine fight in the Senate over the proposal. There is even the possibility that his tax hike may not make it out of the Senate…let alone the House.
The rhetoric is in place, to be sure. But already, there are hints — subtle, but real — that this is not a replay of 2004. If so, then there is a stronger chance that the taxes Chichester proposed today will not become the taxes we pay tomorrow.
I’ve been very quiet about dipping my toes into the speculation regarding the tax hike. Mostly, I get this melancholy sense of inevitability.
I’ve been wrong before…