Quote:
Originally Posted by Minte
The fact remains. Whether the Bush tax cuts were good or bad is moot. They are inplace.
The issue is the uncertainty of whether they will continue or not. Business can sit on it's hands and money while the administration makes the decision.
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An issue for what? Are you saying companies are holding off hiring people because their tax rate may increase by 4.5%? If they do hire people they dont pay taxes on that money so if anything it would have the opposite effect.
This last quarter US Corporate Profits Were the Highest on Record.
http://www.nytimes.com/2010/11/24/bu...my/24econ.html
Yet unemployment remains high. This is partly due to outsourcing and partly due to a lower tax rate, and the outcome is money is being transferred from the middle class to the top 2%. If something doesnt change we will end up a 3rd world country.