Well, the president has appointed a "tax negotiation team" which will "study" the best solution for the Bush era tax rates. The president is in a tight spot made tighter by the mid-term elections. His campaign rhetoric requires him to "tax the rich more." In the meantime, the economic recovery is being very uncooperative. While not in a recession at the moment, it remains sluggish.
Raising tax rates in a struggling economy is not the strategic move that will help us out.
As much as the left loves to harp that tax hikes damaging the economy is a conservative myth, they seem to get it when it comes to their pet projects.
Indiana business, government, and citizens have made some big investments in the biofuel industry and now are left wondering its fate if a 45-cent tax credit is allowed to expire. One consulting firm expects thousands of jobs to be lost if the tax credit expires.
On the one hand, liberals favor targeted tax manipulations because they well know that lower tax rates stimulate the targeted sectors. On the other hand, liberals deny that keeping the Bush-era tax rates in place will help a struggling economy. As with other areas of our common life, they love to play games. The inconsistency of the left continues to amaze the normal human being.