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During the campaign Mitt Romney proposed low tax rates for the wealthy and said he would pay for it with deduction limits (that he never specified). President Obama could always add the specifics, severely limiting deductions while abandoning his pledge to raise rates — and gain more tax revenue than under his own plan.
Which is exactly what some Democrats are now telegraphing they might do.
House Speaker John Boehner, if he goes along, gets to tell his wing nuts that he protected their holy grail of low tax rates. Obama can assure his base the rich are paying more, even if he did cave on promising to end Bush tax cuts.
Both sides get to look bipartisan with a fiscal deal in time for the holidays, setting broad outlines for deduction limits while putting off the details until next year when the spotlight has moved on.
If that happens, give Romney a bit of credit.
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