7/3/10

D.C. rulers heart historic tax hike

Property grab to be harmful at all incomes, all levels
Barring a miracle happening sometime between today and December 30, 2010, only six months remain before the staggering U.S. economy gets hit with the biggest bunch of tax hikes ever.

It happens Dec. 31, 2010, as the Bush administration's tax cuts of 2001 and 2003 expire. They will expire because, as Democratic leaders have long promised, they are not being renewed by President Obama, Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi.

They think that because they aren't doing anything about the coming expiration - though doing nothing is in the context actually endorsing the consequences - they won't be held responsible for what follows in 2011.
(from washingtonexaminer.com)

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