There were a lot of conservatives unhappy with the tax compromise. I also would have preferred stand-alone bills and up-or-down votes on these issues. But one overriding factor decided in favor of it, for me.
There have been ample warnings by some economists, whose opinions I respect, that if we permitted the sunset of the Bush tax cuts to occur, the negative effect on the nation’s economy and jobs would propel the country into a double dip recession.
As it is, the very first tendrils of real recovery have just now made an appearance on the American economic scene. Stocks have been doing well up until now, propelled mainly by corporations grinding every erg of earning capacity out of their severely reduced staffs and downsized operations. There are signs of confidence in the retail field with strong pre-Christmas sales being reported.
Yes, there are signs of life in the economy, most likely bolstered by the Republican tidal wave in November. People are just more optimistic now that they can see that Barack Obama’s march to totalitarianism will be severely curtailed, if not destroyed altogether.
Business can now count on a stable tax rate for the next two years. It means that we have these battles to fight again in two years. Better to fight them with a Republican Congress and a newly elected Conservative Republican President.
This latest, and hopefully last, spending extravaganza by the Obama Congress is just more salt on an open sore, but we cannot lose sight of the goals we have set.
Semper Vigilans, Semper Fidelis
© Skip MacLure 2010
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