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Economic consensus

Why exactly would Obama ignore this sort of thing?

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With income tax rates set to go up on Dec. 31, Congress is hotly debating what to do next. But most economists agree: Keep them where they are.

One option, to let the tax cuts passed during the Bush administration expire for only the richest 3% of taxpayers while renewing them for everyone else, is popular among Democrats and the choice of the Obama administration.

But a majority of a panel of leading economists surveyed by CNNMoney.com said that the tax cuts should be renewed for everyone.

Obama keeps telling us he wants to do something about the jobs situation... economists are telling him what to do... unfortunately, it goes against the core of his ideology.

We will suffer as a result.

Job recovery begins in November.


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Comments (10)

It would appear the average... (Below threshold)
DaveD:

It would appear the average American has a better grasp of economics than anyone in the Obama administration. And the elite are troubled by the possibility of having legislators elected from the unwashed masses?

Why exactly would Obama ... (Below threshold)

Why exactly would Obama ignore this sort of thing?

Ummm...because he's a classic economic fascist straight from the playbook of Mussolini?

Wait, that was a rhetorical question, wasn't it?

It's very easy to ignore th... (Below threshold)
Roy:

It's very easy to ignore that which you do not comprehend.

60% of Americans also oppos... (Below threshold)

60% of Americans also opposed ObamaCare. Obama and Congress ignored them anyway. Same thing here.

And of course the Democrats will blame the Republicans.

Why? Because Barry is a On... (Below threshold)
GarandFan:

Why? Because Barry is a One Trick Pony, incapable of changing. You'll notice that HE makes no mistake; those are made by others.

A tax cut is a mis... (Below threshold)
irongrampa:


A tax cut is a misnomer--a cut simply means the gov't takes LESS of YOUR money.

There must have been a mix ... (Below threshold)
914:

There must have been a mix up somewhere? Barry's pie chart shows a 99.9% piece for him.

Since when do facts matter ... (Below threshold)
Tsar Nicholas II:

Since when do facts matter to neo-Marxists??

Leave Obama alone! What ca... (Below threshold)
Jim Addison:

Leave Obama alone! What can you people possibly want now? He gave you "Recovery Summer" already. He arranged so you don't have to pay back all the money he blew on his unions and cronies - let the grandkids worry about that.

I mean, can't he just eat his waffles and buy his shrimp in peace? The man has a tee time to make, for crying out loud!

Extending them wont do a da... (Below threshold)
rich K:

Extending them wont do a damn thing to fix what they broke.
What they broke is Consumer and Investor Spirit. Until they figure out how to fix that,nothing is going to get better for the funemployed. And with interest rates at effectily Zero, money might as well be buried in the yard as sitting in a bank or bonds.
And Jim is right. If we leave him to eat his waffle maybe he might choke on it.




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