“Jobs and Growth Tax Relief Reconciliation Act” on The Daily Caller

Congressional Democrats don’t always legislate as though they understand human nature. In fact, legislation in theory often deviates from its practical implementation. Senator John Kerry’s recent attempt to avoid the high boat-use tax rates of the Bay State shows that when a legislative body aims to alleviate its fiscal morass by imposing ever-higher tax rates on its people they often only succeed in producing unintended consequences. Those advocating the expiration of the Bush tax cuts should take note. (more)

We all know how Congress feels about the Bush tax cuts from 2001 and 2003 — most Republicans want to extend all of them, temporarily or permanently, and many Democrats want to end the tax cuts for the wealthiest Americans. Without action, the cuts will expire for everyone in December, making this issue perhaps the next big fight on Capitol Hill. (more)

Secretary Geithner is evidently reflecting the left’s desire to wage class warfare at the expense of everyone’s well-being.  It is time for him to recognize that the U.S. has a growth problem.  The U.S. economy is growing, albeit slowly, not declining. GDP has been rising since the third quarter of 2009, and employment is up from its trough in December 2009, NFIB’s small business confidence index is up, consumer confidence is up, and the ISM manufacturing and non-manufacturing indices are above 50, signaling growth. There is substantial and widespread evidence of an ongoing economic expansion.  It is time to put aside the mistake intellectual framework of Keynesian counter-cyclical fiscal fine-tuning known as “stimulus.” (more)

Allowing the 2001 and 2003 tax cuts to expire will be the largest tax increase in American history, hitting the small business owners, middle-class families, investors, and retirees. (more)

With the Bush tax cuts set to expire in five months, congressional Democrats are at odds over whether to allow the increase with the economy still struggling. (more)

Republicans Saturday promised a full-fledged campaign to make permanent a suite of expiring Bush-era tax cuts and accused President Obama and other Democratic leaders for not taking steps yet to prevent their sunset. (more)

Federal Reserve Chairman Ben Bernanke dropped a major bombshell on Democrats seeking massive new revenues to narrow the deficit, announcing Thursday that he favors preserving the Bush administration tax cuts to help a faltering U.S. economy. (more)

Ben Bernanke threw a curveball in his midterm report to Congress this week. The Fed view of the economy has been downgraded since it last reported in February. Although the official Fed forecast for 2010-11 is still 3 to 4 percent real growth, Bernanke sounded particularly gloomy when he characterized the economy as “unusually uncertain.” And he indicated that the majority view of the Fed Board of Governors and Reserve Bank presidents is that the risks to growth are “weighted to the downside.” (more)

The federal government will face crushing budget deficits and a rapidly soaring national debt unless there is a drastic change in policy over the next few decades, a federal body of nonpartisan budget analysts said Wednesday. (more)

E.J. Dionne of the Washington Post wrote a pretty interesting, (albeit wrong, in my humble opinion) opinion piece recently where he asked this important rhetorical question: (more)

People who support President Obama and the Democrats should demand they raise the taxes necessary to pay for all this government spending. They want more government: they should propose ways to pay for it. (more)