Image via WikipediaRead related » House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise
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“House Democrats on Thursday passed a bill making middle-class tax cuts permanent as Republicans accused them of playing political games at a sensitive time. The bill passed 234-188 but stands no chance in the Senate. But House Democrats, who want to let the cuts expire for the wealthy, wanted to publicly stake out their position before compromising on extending the tax cuts for everyone.” [emphasis added]
— Published December 02, 2010 (FoxNews.com)
I know; you know; and even the most naive and disinterested among us knows: there is absolutely no merit, for the vast majority of Americans, in delaying the extension of the so-called "Bush tax cuts". None. Moreover, everyone is now aware that some form of extension of the complete regime of Bush tax cuts is certain to occur with the election of the House Republican majority. It is only a question of when, exactly, and what the details of the compromise will be.
The reason the delay is so damaging for the already struggling economy, which everyone is also very aware of, is that the trillions of dollars held in abeyance from participating in stimulating the economy (by lying dormant in bank vaults) is that businesses, investors, and entrepreneurs are extremely reluctant to act without knowledge of the federal government's near-, mid-, and long-term fiscal policy. And central to such policy is the issue of taxes.
Now, Democrats as well as Republicans represent the people, but they are politicians too, who are very invested in their personal hold on the power of their elected offices. So they are frequently torn between serving the people and serving their personal interests. Sometimes these interests are in sync; sometimes they are not. But there are times when there is much to be gained for everyone with little to nothing arguing against taking the appropriate action. In the current instance, there is everything to be gained by engineering a compromise passage of legislation making the Bush tax cuts permanent. As soon as possible.
But Nancy Pelosi, the lame-duck Speaker of the House, is not concerned with the general welfare of the Nation. Her agenda is entirely consumed with personal spite, no doubt triggered by the rebuke of her miserable conduct as the Speaker. Her willfulness will be the lowlight of her infamy.
Post 1,496 Spite without Respite
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