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To: Siena Dreaming
As far as the deficit panel, I see a recommendation there to lower corporate taxes. I don't see that as a negative for the unemployment situation.
Apparently you missed the part of the report that called for counting capital gains as part of your personal income which effectively raises the tax from 15% to as high as 28%, thereby increasing the cost of capital, thereby undermining capital formation which is the basis of new jobs. Oh, yeah, and then there's the US$1tn in new taxes that the panel calls for only they call it "spending within the tax code" for some reason. http://www.atr.org/obama-debt-commission-calls-forbr-trillion-a5647
21 posted on 11/11/2010 11:01:01 AM PST by casuist (Audi alteram partem.)
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To: casuist
These recommendations are not law.

A Repub-dominated House is not going to go for massive tax hikes.

This is what employers now are becoming aware of and, though still cautious, will begin to loosen their wallets especially if O folds on their tax cut extension. If he folds on such a high-profile promise, being willing to isolate his base, the feeling will become more prevalent that he will fold on other stuff as well. The word "triangulation" will be heard more and more.

27 posted on 11/11/2010 11:10:47 AM PST by Siena Dreaming
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