Krugman studies further and is still of a mind that the Obama tax deal with Republicans is unwise — it will set up another hostage situation a year from now.
Meanwhile, details emerge of a possible Obama strategy to begin a push next year for lower tax rates but increased revenue through an end to the web of deductions and tax credits. Would simplification be a winning strategy for Democrats? Only if Republicans let them pass it. And if altering the credits and deductions means more money for high-end taxpayers, I'd put the odds at small.