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12/2/10

Delaying Tax Vote Could Crash Stock Market


Paul Bedard in USNews.com leads his story with the title
"Delaying Tax Vote Could Crash Stock Market."

I'm surprized Mr. Bedard didn't say the world would come to
an end!

"Failure by Congress to extend the Bush tax cuts, especially
locking in the 15 percent capital gains tax rate, will spark a
stock market sell off starting December 15 as investors move
to lock in gains at a lower rate than the 20 percent it would
jump to next year, warn analysts."

Of course anyone can see this is just a lame attempt to scare
the Democrats into contining to give the wealthiest Americans
a huge tax break at a time when many many families are
struggling to keep their heads above water. Not to mention the
cost to the deficit. This just doesn't make sense giving the
severity of this recession.

The burden of this recession needs to be a shared one.

The negative effects of this economic turndown should not be
placed soley on the back and shoulders of the middle class and
poor.