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Thursday, May 04, 2006

Tax Cuts Coming?

According to the Washington Post, President Bush and Congress have agreed to a partial extension of the dividend and capital gains tax cuts through 2010. The bad news is that they haven't agreed to the income tax rate cuts and that we will have to go through this entire process again in just a few years.

I really hate the fact that the government can raise taxes permanently, but any tax cut must be "renewed" every few years. One day (hopefully very distant from today) Democrats will get elected and then you can forget about any chance of "renewing" these tax cuts.

How about if we had to vote to renew Congress' salaries and benefits and if there is no agreement, then they don't get paid?