Monday, September 3, 2012
American taxpayers should prepare themselves for the worst. On January 1, 2013 there will be tax increases for everyone. The so called "Bush Tax Cuts" will expire and everyone's taxes will go up. This will occur no matter who wins the election. If Obama wins he will want it this way so he can continue to spend. If Romney wins the Democrats will want to deliver as much pain to the American people as they can as punishment for voting against them. There will be no grand bargain after election day. There will be no tax cut preserved for the middle class. There will be no budget. There will no spending cuts. Obama and Reid will make America pay through the nose. There will be a Continuing Resolution so that the Federal government can continue its reckless spending and maintain its trillion dollar deficits until the nation is bankrupt. The expiration of the tax cuts will ameliorate the automatic baseline increases for a little while, but the national debt will continue to grow, inching closer and closer to the $20 Trillion mark. In 2013, the American people will regret that the Bush Tax cuts were never made permanent.