Taxes In Fiscal Cliff Options

Washington Post, via Ritholtz:

I'm confused by the story that Boehner is considering giving in on increasing taxes on millionaires (who are now defined as people who make $1 million per year in income, as opposed to those who have a total net worth of $1 million).  One of the Republicans' favorite talking points is that you could take all the income of the people making over $250,000, and it wouldn't close the deficit, but instead, they are offering a much smaller tax increase on an even smaller pool of money.  There are two competing points there, but the logic of either is pretty strange.  First you say that doing way more than what the President proposes won't do much good, but then you say you are willing to do way less than the President, so your plans will have even less effect.  Damn, these Republicans are strange.