This week, I’ve asked readers to chime in on the Bush tax cuts. This guest post is courtesy of Michael J. Craig, EA (for more on the topic, see the original post):
The Bush Tax Cuts are about to expire and does anyone want to do anything about it? The American political system is designed not to work. Well-organized special interests can routinely grind it to a halt. The recent explosion of hyper partisanship on the part of both the Democrats and the Republicans is adding to the problem. With the mid term elections coming up, there is a trifecta of inertia that is about to descend on the Republic. Many of the provisions of the Bush Tax Cuts are now woven into the fabric of American life. The full blown return of the marriage penalty, the reduction of the child tax credit and the further limiting of personal deductions will shock American tax payers. Sadly, taxpayers will have no recourse. The votes are not there to extend the tax cuts in there entirety and a piece-meal extension only serves partisan interests of one kind or the other. So get ready to pay more and get less. The political good will necessary to solve this problem does not exist and won’t for the foreseeable future. So much for change you can believe in.
