Lame Duck Congress and Tax Policy

[clifburnett]

Yesterday(Dec.6) the lame duck congress pulled another stunt on government finance. With the government swimming in red ink the congress has decided to renew the Bush taxcuts across the board for two years. This includes the taxcuts for the super rich that should have been allowed to expire. Another dumb idea was a reduction in the social security tax rate on wage earners. The Social Security Trust Fund has been in financial trouble for over two years and social security recipients have went without a COLA's and will go without COLA's for some time. Politicians do the dumbest things and against the dumbards in Washington have fiddled with the government's books. Voodoo economics is reducing taxes without reducing spending and then borrowing for expenditures not covered by tax revenues. Both democrats and republicans are mixed up in this compromise and the peoples' government is the real loser in this compromise.
Clif Burnett