Taxmageddon in 2013: Democrats’ crazy game of economic chicken

Posted by on Aug 01, 2012 at 8:02 am

Here are the stakes: The US economy is growing so slowly right now that if just about anything goes wrong, anything at all, it could mean another recession — quite possibly pushing unemployment back to the worst levels of the Great Recession.

To use President Obama’s once-favored metaphor, the car would be back in the ditch, stuck worse than ever. Welcome back to 2009.

Yet the Obamacrats in Washington are flirting with steering right at the ditch, by letting some $400 billion worth of tax hikes engulf the struggling economy on Jan. 1.

Under current law, that day will see the the 2001 and 2003 Bush tax cuts expire, even as the new ObamaCare investment tax kicks in.

Full story.

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