The Midterm Tsunami | National Catholic Reporter by MSW. MGB: Obama ran away from this election being about him, probably because internal polling - the stuff we don't see - showed that the voters he needed just would not come out this year and that no amount of volunteer support or fundraising would help. I know that seems defeatist, but I have worked election where the decision was made to put on a good show but know that victory was out of reach. As for what will happen next, I think it will be an abortion bill, but one to revise the Partial Birth Abortion Act - nothing about fetal pain, sex selection or downs children (unless the GOP wants to pay for supportive care for the parents too).
There probably will be a trade deal, which is payback to the AFL-CIO for not turning out. Some studies show that trade creates whole new classes of workers - and high wage at that. I hope this is the case, but it won't go down well for the workers of the trading partner, who likely face worse anti-union pressures than here at home.
As for a business income tax reform bill, unless they are willing to go big and do individual business taxes as well - maybe even a VAT, I don't see it - especially since lowering rates here means higher individual rates for those earners that reap the benefits through capital gains and dividends. I hope Obama is still enough of a Democrat to not cut taxes on the wealthy. Social Security income cap removal only makes sense on the employer side - it should go down on the employee side so benefits go down, with no cap on the employer side - with contribution crediting equality and possible consumption tax funding (to get money from profit, not just wages). Now that would be an accomplishment.
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