House Extends Tax Cuts

Well, it looks like we've got the tax cuts on capital gains and dividends for another two years. Of course, this wouldn't be a bad thing if we didn't have a massive Federal deficit. Or if they hadn't just lopped approximately the same amount of money off of Medicare, food stamps and student loans, not three weeks ago. (Linky)

I'm particularly fond of this quote:

But Phil Gingrey, a Georgia Republican, insisted his party was not "robbing the poor to pay the rich". Instead, he said, failure to extend the cuts would result in a tax increase.

No... Failure to extend the cuts would result in: the end of the cuts. Pay special attention to that word "cuts". Or what other people might call "a return to the original level of taxation, prior to the cuts, which were sold as a temporary measure to kickstart the recession-addled economy." See how easy it is, Phil?

Oh well...I suppose I'll take my savings on this years' dividend taxes and go buy a six-pack.