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Billerica, Billerica Blog, Bush tax rate and unemployment bill, kabuki theater, social security tax cut
After doing their obligatory dance of the stumblebum fairies, the United States House of Representatives ultimately voted to extend the Bush tax rates for all groups, extend unemployment yet again, cut social security taxes by 2% (even though social security is already underfunded?), and lower the estate tax rate. The bill will cost the U.S. taxpayer over $800,000,000,000.00 dollars as non of it was offset with spending cuts to the chagrin of the TEA party groups and independents disgusted with the penchant of Congress to keep the public purse open.
The measure would extend tax cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage.
Those who have been out of work for 99 weeks already were not extended and are off the rolls. It is estimated that about 1 million people fit into this category.”
A major first step toward bipartisanship? Don’t hold your breath.
