Originally Posted by Villages Kahuna

Will the extension of the Bush tax cuts as is really help the economy? If the top 1-2% are taxed more while 98-99% of taxpayers get a cut, how will that effect things? I think everyone agrees that a broad tax increase that would result from the sunsetting of the Bush cuts would be bad at this state of the economy.

Almost all the experts say that "certainty" in the tax code and regulatory environment is what's needed to spur economic growth. How many politicians, particularly Republicans, have you heard making soundbites about the lack of certainty slowing economic growth? Growth sure isn't being limited by a lack of capital--American corporations are sitting on over $2 trillion in cash. In fact, one might wonder if further cutting the taxes on wealthy individuals and corporations paying too little in taxes (one-third of the Fortune 500 pay no federal income taxes!), how letting them accumulate even more cash will entice them to invest it? Good question, huh? If they're investing anywhere these days, it's overseas.

But all Congress is arguing about is a temporary extension of the Bush tax cuts. Let's see, those tax rates have been "temporary" for what, 11-12 years now? And Congress wants to extend them once again to give them time to consider permanent legislation? Gee-suz, that's longer than it took us to put a man on the moon after John Kennedy said that we would!

So who's saying anything about certainty? About a broad look at tax reform? About a broad look at reglatory reform? When the first Congressional joint committee or commission is appointed to do anything but extend the patchwork, Rube Goldberg set of economic legislation, maybe just maybe I'll have some hope. Listen carefully...anyone heard a member of Congress talking of such things?

No, I didn't think so.