There is an interesting brief passage in Damien Paletta and Carol E. Lee’s Wall Street Journal article on the state of play on tax rates:
Rep. Mike Simpson (R., Idaho) said in an interview Wednesday many Republicans would likely accept a deal that raised tax rates on households earning more than $500,000 or $1 million if Democrats offered to back substantial entitlement cuts.
Don’t be shocked if the politically-attractive, but in my view unwise, millionaire’s tax bracket returns.