It’s not a tax increase, it’s a penalty expansion!

In a bold, unpredictable move, President Obama declared on Monday his desire to extend the Bush-era tax cuts for all but the highest-income earners, by which he means anyone richer than Al and Peg Bundy.

Meanwhile, House Republicans plan to continue their Chinese water torture on the nation by voting on whether to continue the cuts for all levels of income earners for just 365 more days.

Yahoo News repeats Obama’s claim that not raising taxes on the wealthy will mean “cash-strapped state and federal governments have to make deeper cuts to education, infrastructure and scientific research,” by which he means copies of An Inconvenient Truth, solar panels at the White House, and Solyndra subsidies.

Could we stop talking for a moment about the lunacy of raising taxes in a recession, and focus on the fact that the federal government’s failure to enact a fixed, long-term tax structure for more than a few months at a time is nearly as detrimental to the country’s growth as failure to keep down rates on “the rich”?  read more »