Each tick of the clock brings us closer to the expiration of the Bush tax cuts. Rush Limbaugh has come out against the compromise bill as has far-left Senator Bernie Sanders. President Obama has unwittingly united the left and the right, but what's gnawing at him is the ghost of George W. Bush.
Having won the presidency in 2008 largely by vilifying Bush, Barack Obama is now facing the reality that Bush's tax cuts will become Obama's Tax Hike Extravaganza at the stroke of midnight that begins the new year. And Obama will receive the blame because of his failure to lead on Tuesday, his abdication on Friday, and the fact that Democrats have controlled both houses of Congress and the Presidency for the past two years. Thus the nation plods, zombie-like, toward the economic catastrophe of higher taxes for all.
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And this will impose a bad effect on the economy, is that what you are trying to say? Kindly please explain it in a more simple way. That way a 17-year-old curious lad will understand it. Thanks.
2020 tax resolution
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