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Hardening Positions on Tax Policy Suggest Hard Times Ahead

Ovide603 Wrote: Oct 12, 2012 7:42 PM
The Democrat-controlled House defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and congressional leaders from both sides of the aisle to quickly bail out the staggering financial industry. Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor. George Bush went on to tell the nation, "We need $700 billion to re-capitalize the American financial system." This government capitalization was unwound in 2009 after Obama was president.
WASHINGTON -- No other issue is paralyzing the U.S. economy more than the unsettled question of where taxes are headed in the years to come.

That question, raised by a tidal wave of expiring tax cuts that will hit most of us on Jan. 1, is the chief cause of the uncertainty that has swept through our economy, stalling business expansion, capital investment and job creation.

The issue is further complicated by Obamacare and a regulatory maze of mandates, tax increases, penalties and fees that will hit businesses and middle-class Americans alike.

Why hire more workers when the feds could soon show up at...