The real reason the GOP refuses to raise taxes

Everyone knows increasing revenues has to be part of a budget deal. But if Republicans give in, Obama wins big.

By Andrew Leonard
Salon.com

Bloomberg reports that "global investors" are convinced the U.S. will have to raise taxes as part of a deal to address the long-term budget deficit.

Assessments of the U.S. budget impasse show no such regional variation, with majorities of investors in the U.S., Europe and Asia concluding a tax increase is a necessary part of a deficit-reduction deal. Asked if it is possible to reduce "substantially" the deficit without raising taxes, 64 percent of respondents say no, while 33 percent say it's possible.

The view on taxes is significant because of the political outlook of the global respondents: Those describing themselves as "right-of-center" outnumber "left-of-center" investors by more than 3-to-1; 37 percent say they are "centrists."

(More here.)