Really torn about this. Extending the tax cuts is a no-brainer, has to be done. Whether we could have got a better deal is open for debate, but how much debate do we expect politicians to have at the expense of typical families? Seems to me if the deal goes thru, it’s OK. If not the R’s can put a new plan forward in Jan. and make the tax rate retroactive, no?
Here’s an interesting question about passing bills.
Why can’t we consider this present deal a small step towards a longer term goal -— PERMANENCE?
We have barely 25 days before this lame duck congress dismisses and also 25 days by which, if we do nothing, everyone’s taxes go up. We’re fighting against the clock here.
What’s wrong with cutting a deal now and then when the new congress takes over, make it one of their top 5 priorities (along with Repealing Obamacare) to REPEAL the present tax code to make it more flat, simplified and permanent? By then, we’ll have plenty of time.
That would raise payroll costs, as payroll tables would need to be changed twice - whereas if the tax cuts are extended now, they won't need to be changed, other than the Social Security tax rate being reduced.