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What is the status of the Bush Income Tax Cuts?

If nothing is done, Nearly all of the Bush cuts—individual rates, capital gains, dividends, estate tax—are set to expire after 2010. Sixty votes are needed in the 100-member Senate to pass permanent tax cuts.

The problem with having tax cuts that expire is they only work during the beginning few years that they are in effect. As the expiration date draws closer, businesses have to re-balance and recompute their books to cope with the looming expiration.

UNCERTAINTY is the enemy of business. As the tax climate ( and ultimately business climate ) becomes UNCERTAIN, businesses will be reluctant to hire because they are unsure about the future.

HENCE OUR DOUBLE DIGIT UNEMPLOYMENT. Unless this tax is extended by several more years or better still, MADE PERMANENT, I don't see how we can solve our problem of HIGH UNEMPLOYMENT. We might have to get use to it while Obama is still in power.