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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (78596)	3/24/2010 10:29:35 AM
From: Oeconomicus	1 Recommendation Read Replies (2) \| Respond to of 90947

"Taxes. If Congress does not act, there will be a huge tax increase next year. Congress will act, meaning that there will be a huge tax increase for some Americans--those who are already paying nearly all the taxes--but not others." My prediction is that, not only will Obalosi allow the "Bush tax cuts for the rich" (those for the $250k plus families) expire as scheduled, but the entire 2001-2003 package of cuts. It'll have to be done. The excuse they'll use is 'paygo' rules - if they renew any of them, they'll "have to pay for them" by finding new revenue elsewhere. But they're gonna have to find new revenue elsewhere already to pay for the $200-something billion "doc fix" they've already promised (while simultaneously counting the cuts the "doc fix" fixes in "paying for" Obamacare). They'll also deny vehemently that they are actually raising taxes. They'll say "Bush did it" already; that they're just allowing tax rates to return to their planned, proper level; that they were always meant to be temporary and their time has passed. What's more, they'll proclaim themselves the fiscally responsible ones, making the hard, but necessary choices so as not to overburden future generations. And they'll say it with a straight face, too. On the plus side, that would return several million people to the tax rolls, meaning fewer people in that middle quintile with no stake in the game. Maybe they'll start to realize there really is no free lunch and care again about the explosive growth of government. Anyway, that's my prediction. And they'll still need other revenue to cover the "doc fix."