You must be a huge fan of Nancy Pelosi, Harry Reid, Barack Obama and the other liberals who pushed this anti-taxpayer bill. When President Bush and the GOP Congress cut taxes for all Americans, they had to use the budget process to avoid a Senate filibuster, and thus the lower rates had to expire on January 1, 2011 (because budget rules don’t allow changes tbat affect more than 10 fiscal years or something like that). Tax rates will go up for *everyone* on January 1 unless Congress acts, and the Democrats blocked every attempt at making the lower rates permanent back when Republicans controlled Congress and haven’t done squat since they took over, because the moonbats in the party would all switch to the Greens if the Democrats didn’t allow taxes to go up on “rich people” (you know, the people who employ a huge chunk of the population). So now, at the eleventh hour, the Democrats want to make the current tax rates “permanent” for lower income brackets but to raise taxes on the upper income brackets, the latter of which will make unemployment go up even more.
The Republicans are being responsible and smart to insist that either all the tax rates are made permanent (our first choice) or all are extended for a couple of years (our second choice; it would have the issue come up again in 2012, which would certainly benefit us in the election). If they allow only certain tax rates to be made permanent, the other tax rates will go up on January 1 and it would be impossible to bring them down again (at least while Obama is president). Don’t fall for Democrat demagoguery—if we don’t all hang together, surely we will all hang separately.
way to go, mindless ad homniem attacks. Yeah!!!
Don’t sweat it. Tempest has been trolling this whole thread. Obvious leftist that has no understanding of economics.