


The House and Senate have agreed to extend the payroll tax cut. We'll hear expert analysis from Dana Bash, John King, Candy Crowley, Paul Begala and Ari Fleischer on AC360 at 8 and 10 p.m. ET.
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Post by: Dr. Sanjay Gupta Filed under: Raw Politics |
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Congress agreeing to two-months of tax relief is a farce! The notion that the Republican House tried to block a two-month tax deal it a J-O-K-E! The truth is that the Senate blocked a one year tax-break, which by all common sense should have been two full years, starting on January 1st, the beginning of most tax payers' fiscal year. Two years of certainty is what the U.S. needs to give people the feeling of security which they need to plan their "short-term" financial futures. It is precisely that level of security which Americans need, in order to feel confident enough to start spending again. Once the spending starts, employment will pick-up. Then, the tax shortfall caused by the tax break will be more than paid-for by new revenues generated by a robust economy. It's that plain and simple... That is, if Congress doesn't go on another spending binge!