I have a question...

"Jim Thompson" wrote in message news: snipped-for-privacy@4ax.com...

It hasn't been decided yet. GOP wants them extended, Demon-crats want them to expire for the wealthy.

Cheers

Standard and Poors expects them to be extended, and cited that expectation in their decision to downgrade the US sovereign debt rating (from AAA to AA+ with a negative outlook)

"Our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place".

Best regards, Spehro Pefhany

I wonder if Our Glorious Beloved Infallible Leader will include himself and his cronies like George Soros and Oprah Winfrey in their definition of "the wealthy?"

For that matter, why don't they just offer to pay the debt out of their personal billions, since they're supposed to be so all-fired "altruistic?"

Thanks, Rich

They probably left that for later, much like our founding fathers left the slavery question for later. Only instead of dying before the issue came to a head, it'll be in a few months.

I think the Republicans have a pretty good idea of Barak Obama's bargaining abilities (I would _love_ to buy a house from that guy!); they probably snickered when that was left out.

You also notice that the tea party did not mentioned it either.

It will be another pawn for the tea party to jump up-n-down over.

Both sides are wagging the dog, but why ?

Choose, A, B, or both:

A: they (both sides) realized that letting the country go into default would be political suicide.

B: they (again, both sides) felt that having the fight just days before the election would let them look like heroes, without giving the electorate time to really analyze just how badly they were f***ing things up.

What default? Servicing the debt would take less than 10% of the revenue. If Obama *decided* default on any debt payments, it was on him.

They will have the argument all over again, about $600B (about six months) from now. Not days before the election.

n play?

=A0 =A0...Jim Thompson

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I still haven't decided if the "Patriot Act" has anything to do with patriotism. They should just call them the Lipstick Act, cause mostly, that's what all of those laws are anyway.

As to tax cuts for the wealthy... I get it, that at some point, folks naturally turn from wealth accumulation to wealth retention. But I don't agree that tax cuts for the wealthy create jobs. At least, not here in the US. The Bush-era tax cuts have been around for years. Where are the jobs?