The fiscal cliff, the budget deficits, and the accruing national debt are a result of out-of-control spending, not lack of revenue. Over the last 30 years, revenues have constantly risen as a result of economic growth (with the exception of brief recession interludes). If the federal government had kept spending growing on a pace with economic growth; i.e., lived within its means, we would have balanced budgets right now, and the debt would be orders of magnitude smaller.
The anti-tax pledge has been a bulwark for not just Republican elected officials, but especially for their constituents. The pledge they have made is to the people that elected them, not to Grover Norquist. If they break the pledge, they are breaking their commitment to the people who elected them, and the consequences will be felt at the next election cycle.
The only way they could get away with breaking the pledge would be if they raised taxes and dramatically cut spending, with a ratio of something like 5:1 spending cuts to tax increases, AND the economy took off. But that isn't going to happen. History suggests that if Republicans go for some deal in exchange for tax increases, the tax increases will take place right away, while the spending cuts will never materialize. Such deals have always been worse for the economy, and worse for Republicans.
So I think Republicans break their tax pledge at their peril, and at the peril of the American people.
November 26, 2012