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October 24, 2010

Will all the BushCo tax cuts expire?

It's possible that, after the election, gridlock and anger will be even worse, and so nothing will be done in the lame-duck Congressional session, including on the BushCo tax cuts.

If it's at the price of the middle-class tax cuts expiring that tax cuts for the rich go by the boards, too, fine. Of course, given Team Obama's politically tin ear, this won't be exploited as it should be, or could be:
While the newly elected Congress does not convene until January, Republicans could gain four Senate seats right away due to vacancies that will be filled this year. But that might not be enough to get what many Republicans really want: long-term extension of all the Bush-era lower tax rates.

"Why would you settle for a half a loaf?" an industry lobbyist said of Republicans' potential strategy.

It's clear from that quote it's ripe for the exploiting. Will Preznit Kumbaya do so, or will he still be trying to find "cooperation"?

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