Monday, December 6, 2010

At this point ...

We should just let all the tax cuts expire. If the growing national debt is supposedly the greatest danger to our economy, then we might as well all take the pain. Letting all the cuts expire will reduce the deficit by $3 trillion (as opposed to the relatively meager $700bln if only the top 2% get their taxes raised). Isn't that what we want?

Reporting from Washington — In a rare Saturday session, Senate Democrats and Republicans remained at loggerheads over whether to extend the George W. Bush-era tax cuts to all taxpayers, ratcheting up the pressure on lawmakers to try to reach agreement before the tax cuts expire at the end of the year.

With Republicans unified in opposition, Democrats, as expected, fell short of the votes needed to overcome a filibuster and extend the tax cuts for all but the very wealthy.


If Barry had a ball or two, he'd veto any tax cut bill coming out of Congress but that won't happen. The White House has caved already, citing the need for 'compromise' and allowing extension of unemployment benefits to be linked to the cuts. Once again, those looking to 1600 for leadership are sorely disappointed.

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