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Pinganator
Dems lose control of Congress in November 2010.
Tax cuts expire and stupid public doesn’t notice until 2011.
Republicans blamed.
go get ‘em, Herm!
It’s time to look up Jefferson’s comments on the necessity for revolutions to clean things up - ever so often.
Methinks the “so often” may be near.
Tax and spend is what dems do. The really interesting part is what will the new Congress do esp if ‘conservatives’ take charge. If there’s no repeal they own the increases whether they like it or not. Not only will they have to repeal them but also override Barry’s veto. That exercise will demonstrate their resolve to put the country back on track. Then there are the necessarily huge spending cuts. All in all its a pretty big chuck to take on. I suspect they’ll fail due to lack of courage...that’s what republicans do.
the liberals are misty-eyed over returning to Bill Clinton’s tax rates....but minus the Gingrich “Contract with America”
Raise taxes in the midst of a looming DEPRESSION without any fiscal restraint whatsoever on the president or the democrat/RINO congress - except China
Can’t wait, kids.
And don’t spend your spare change anytime soon
The Republicans got sucker punched by the Democrats again, because collectively they thought there was no way the Democrats would allow obviously unfair tax penalties to be re-instated. And just as the Democrats do not care if legislation is good or bad as long as it enhances their big government agenda, they do not care about fairness in the tax code.
Hauser’s Law: No Fed tax collection efforts as measured in total from the early 1900’s have EVER been able to exceed 19.5% of the GDP. Therefore, measure the ability of the US taxpayer to service the national debts as never exceeding 19.5% of the nations current GDP, no matter what.
http://shimmie.shishnet.org/v2/post/view/2413 1950-2007
Graph from 1910 remains the same, at 19.5%, not linked.
Taxes will decrease the GDP further, and China has itself downgraded the US Bond rating it uses.
Recent articles also show that for every dollar borrowed there is a consequential DECREASE in GDP of $.40-$.45 with associated job REDUCTIONS! The Diminishing Productivity of Debt graph now in BIG negative terrirory!:
http://www.swarmusa.com/vb4/content.php/282-THE-Most-Important-Chart-of-the-CENTURY
Recovery? In the administrations dreams! WE have not hit bottom yet.