Tax Cut Extension - The GOP's Fiscal Time Bomb

[Donnachaidh]

http://www.thedailybeast.com/blogs-and-stories/2010-12-02/tax-cut-extension-the-gops-fiscal-time-bomb/


Call it the revenge of George W. Bush: The GOP temporary tax cut has exploded nine years later, forcing Democrats to duck and cover. Howard Kurtz talks to the Bush aides behind the plot.

George W. Bush set the trap just over nine years ago, and the Democrats are still trying to extricate themselves.

In a largely symbolic vote designed to score political points, the House voted Thursday to extend the Bush tax cuts for 98 percent of Americans, and Harry Reid plans to follow suit as early as today with a similar Senate vote, plus one on extending the tax breaks for everyone.

The Democratic move, which will vanish into Senate quicksand, infuriated Republicans and triggered a round of partisan nastiness that made the pledges of cooperation at President Obama’s sit-down with GOP leaders this week seem like a distant memory.

But in Washington, where anything beyond last week’s news cycle is considered ancient history, the jury-rigged nature of the Bush plan—and the fiscal sleight-of-hand involved—have been all but forgotten.


More at the link --

[RickFromMN]

1. Hopefully our Democratic Senators will stand firm; our President won't.

Let all the tax cuts expire.

It's time the Republican bullies be told no.

The Republicans want a scorched earth policy if they don't get their way.

So be it. Let's scorch the earth.