Thursday, December 2, 2010


CNN.COM reports in “House Tax Break Vote Expected Thursday” that it seems the House is going to vote on a bill to “permanently extend tax breaks for those making $250,000 a year or less”.

The bill will not pass due to opposition from Republicans, who have vowed to prevent a vote on "any legislative item until the Senate has acted to fund the government and we have prevented the tax increase that is currently awaiting all American taxpayers”.

But what is important is that Congress must NOT extend the “Bush tax cuts” for either most or all Americans “permanently”. This must not happen! Any extension must be temporary. If the cuts are approved permanently Congress, in its infinite laziness, will abandon or avoid any serious discussion of substantive tax reform.

The “Bush tax cuts” MUST be temporarily extended for everyone for at the very most two tax years, so the new Congress will be forced to deal with tax reform.

No comments: