Maybe I should go pout.

obama-presents-tax-deal-as-a-victory-for-sensible-center

Compromise is part of bi-partisan politics.  Usually neither side gets exactly what they want, and they both grumble about it afterward.  In this case the Republicans caved in and agreed to allow another 13 MONTHS of unemployment benefits for people still out of work.  In return, Obama agreed to extend the Bush tax cuts to ALL Americans, not just those making less than $200,000 single, $250,000 married, and decrease the increase(you get that?) in the estate tax to 35%, with the first 5 million exempted.  

Democrats got...ummm...bent over and back doored by Barry.  Not entirely, but that is how a lot of them are coming across.  The Dems got their unemployment benefits extended, plus a 2% drop in the payroll/social security tax. 

And in the end, what did you, your children, your grand children, AND your great-great-GREAT Grand Children get?  An estimated 800-900 Billion more added to the Federal Debt.  YAY!!!!!!!!

I am not happy with that...not at all.  I realize as someone who thinks of myself as a libertarian, I am supposed to be against taxes and such. I am also a realist, who believes sooner or later(preferably sooner, rather than defaulting) we are going to have to pay down the debt.  NOT ADD ANOTHER 800-900 BILLION TO IT.

Sigh...it's sad some people have no money and need unemployment benefits,  but some of them have already been on it almost 2 years!  How long and at what long term damage to the economy are we going to keep paying unemployment benefits? 

As for reducing the payroll/social security taxes, The Social Security Fund is already doing poorly.  This is not going to help it out.

Keeping the Bush Tax cuts going is good, I guess...I just hate hearing a married couple making $250,000 a year referred to as rich, and painted as targets of scorn.  I know a few married couples that make in the range of this money.  A middle manager married to a small business owner gets you in this rough income bracket.  They shouldn't be punished for being successful in their chosen careers.  If you want to set a threshold somewhere in the $750K-$1,000,000 range, I would not protest.

The only thing I am okay with that came out of this probably compromise today is the estate tax plan.  Prior to this, the expectation was that at the end of 2010 the Estate Tax was going to from Zero Percent, where Bush had put it, to 55% where it used to be.  That is an obscene tax rate in my opinion.  35% is still not good, but the plan is to have the first 5 million per spouse exempted. 

Of course all this is still just a plan.  What remains to be seen, and could make for an interesting week, is if the Democrats in the Congress will actually back Obama up on his plans.  Some of them are talking big talk that they might vote for what they want, and leave Barry hanging on his deal with the Republicans.

THAT would be entertaining.