The Tax Cut Game Of Chicken

Brian Beutler considers the various Bush tax cut compromises. One scenario:

Dems agree to a two year extension of all the tax cuts in exchange for a few goodies like extending unemployment insurance. And then...what? That's when you have to start asking yourself what the politics of late 2012 will look like -- and for that matter who will control Congress and the White House in 2013. A two year extension of all the tax cuts is cheaper than the Schumer plan if taxes on the wealthy go up in 2013. But what if Dems punt again for two years? There goes the cost advantage. What if a Republicans control the government in 2013? Then all assumptions fly out the window.