It all depends on your point of view is a quote (I think from Obi Wan in Star Wars). That’s certainly true with respect to if a tax cut is a cut or a tax increase avoided with respect to the tax compromise.
It all depends what baseline you use for measuring.
Which brings us to Johnny Depp. Depp plays the title character in the new film “The Tourist”. He doesn’t know anything about budget baselines, but he does learn how perceptions depend on what your benchmark is:
Inspector: Now, you wish to report a murder?
Depp: No, some people tried to kill me.
Inspector: I was told you were reporting a murder.
Depp: Attempted murder.
Inspector: Ah, that is not so serious.
Depp: No, not when you downgrade it from murder. When you upgrade it from room service, it’s quite serious.
Should today’s tax deal be compared to room service or to murder? I leave it up to you, dear reader, to decide.