Morning Joe

Masscahusetts senator John Kerry admitted today that allowing the Bush tax cuts to expire will result in a "major tax increase." Kerry is a member of the so-called supercommittee.

"You're guaranteed, unless it's changed, a major tax increase on January 1st, 2013, when the Bush tax cuts expire," Kerry said this morning on MSNBC's Morning Joe. Watch the video below:

During last December's lame duck session of Congress, Democrats were resistant to extending the Bush-era tax rates of 2003, and Kerry himself argued that, by doing so, Congress would be giving those in the highest bracket "huge extra tax cuts" and called it a "special bonus." At the time, Republicans countered that by not extending the Bush tax cuts, the result would be a tax increase, a policy the GOP found undesirable in a faltering economy.

Today, while making a point about the supercommittee's inaction, Kerry seems to have accepted the Republican argument. Expect this admission to find its way into some GOP campaign ads next year.

This is just fun TV. Rudy keeps it nice and clean while Scarborough plays bad cop. Scarborough's lines about Huffington's former support of Newt Gingrich and her run for California governor are particularly delicious.