Debate rages on – between members of Congress and the Senate over whether or not to extend the Bush-era tax cuts.
Would the extension be a good thing?
That question – asked of Jay Heflin – The Hill’s Senior Tax Reporter, by Tony at WILS.
“The big issue is what it does to the mindset of the consumer. And so basically if you have a wealthier person – and the wealthy are the ones doing most of the spending now – if you basically tell them – hey we’re going to increase your taxes – is that going to make them pull back? And so it’s more the argument – is basically because the economy is so weak – lets not do anything that makes it worse.”
If the federal government decides to extend the cuts – the US could be faced with a 9 or 10 trillion dollar deficit over the next decade.
Also making a buzz…
The National Federation of Independent Business and 20 states – make arguments today – as to why their national lawsuit against President Obama’s new healthcare law should continue.
“Whether or not that ruling actually comes down today one way or the other – we’ll have to see. But, potentially there is the possibility of the case being thrown out.”
That was Fox’s Eben Brown speaking with the folks at WPTI in Greensborough, NC.
If the case is NOT thrown out – the Attorneys General from those 20 states are expected to ask the Judge for a motion for Summary Judgment – which would circumvent the necessity for the case to go to trial.
I’m Jessica Curtis – and that’s your talk radio buzz, from Fox News Radio.