The Tax Compromise That Wasn’t


Apparently, President Obama now supports tax cuts. And the democratic controlled congress (at least until mid January) agrees.

Of course, as Eric Erickson points out, this is really more smoke and more mirrors.

The so-called tax cuts will extend out only two years, which will likely have negligible effects on the economy since businesses hire based on the prospects of the future.

To add insult to injury, a 35% death tax is going to be introduced.

But that’s ok, because payroll taxed for social security are going to be cut for a year. I mean, Social Security is doing fine, right? All we have to do is cut income and it will do better.

And we’re not going to stop paying people unemployment who have been out of work almost a decade now.

I’m sorry, this stinks, and I don’t want it.

Extend the Bush tax cuts out ten years or more. Better yet, cut taxes even further, especially the taxes on corporations and investments.

Eliminate the death tax altogether.

Instead of cutting revenue to Social Security for a year, why don’t we discuss seriously reforming it, before the only option on the table becomes screwing the elderly.

And why don’t we talk about cutting spending at the same time. After all, cutting taxes simply to borrow and print the money isn’t helping our country. Let’s end the unemployment pay-people-to-not-work stupidity. Let’s cut off food stamps and all other social services as well. We simply DO NOT HAVE THE MONEY to do these things, and we cannot expect to allow taxes to increase and our economy to grow at the same time. While we’re at it, let’s end the farm bill insanity, allowing the prices of crops to be set by the marketplace. If we couple this with an end to price controls of various foods, maybe, just maybe, food will become so cheap that food stamps don’t make sense.

This “compromise” is the last great hope of the liberal republicans and democrats. They want to leave on final one-finger salute to the American people before the new congress takes over.


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