The debate over the “fiscal cliff” is an important tactical one and could have widespread political ramifications. There are complicated issues to consider. Should the Republicans give in to Mr. Obama’s demand that we raise the top tax rates? If so, what should they demand in return? If they don’t get it, is it more prudent to retreat in order to fight another day on more advantageous ground for the GOP? Or should Republicans be willing to go cliff diving with the president, confident that in the end Obama will own any future recession?