Thursday, December 6, 2012


The idiots in Washington don’t seem to get it. They have wasted away the luxury of partisan posturing on the issue of tax rates. And they actually have two separate issues (actually three when it comes to mandatory spending cuts) with which to deal. 

First and most important is the “extenders” that expired on December 31, 2011.  And most important of these is the AMT “patch”.  Not dealing with this issue before the end of 2012 will cause the most damage.  THIS ISSUE MUST BE DEALT WITH IMMEDIATELY – and it has nothing whatsoever to do with raising taxes on the rich.

The second tax issue is the expiration of the “Bush” and Obama tax cuts that expire on December 31, 2012.  Here is where they have wasted away the luxury of partisan posturing.  The best thing to do is to extend everything as it now exists for one more year (except for the 2% Social Security cut), and return to political bickering in January of 2013, when they have a full year to work out a compromise, and hopefully (although probably too much to ask) actually enact some tax reform in the process.

However, while extending everything as is for another year is “more better” and will at least allow the IRS to determine and publish the correct withholding tables for 2013 starting with day one, it is not an absolute necessity.  The posturing can continue once the new Congress, not much different than the old Congress, takes its seats in January.  Waiting until next year to act on this will certainly cause problems, these problems will be slightly less serious.

The continued unmoveable hard line on "resolving" the "fiscal cliff" taken by the two sides is a clear indication that the idiots in Washington do not give a tinker's damn about the American public.

The idiots in Washington need to get off their arse, clean up their act, and recognize and take responsibility for the fact that they are the only ones to blame for this situation, and the multiple problems that will be created if they continue to do nothing. 


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