01 January 2013

Ironically, the House is supporting tax increases

As I write this, Republicans in the U.S. House of Representatives are still playing politics with the so-called fiscal cliff, with Majority Leader Eric Cantor and other members refusing to support the compromise bill that passed the Senate early this morning. The Senate bill reinstates the Bush-era tax cuts for singles making $400K or less, and for couples making $450K or less.

Ironically, by rejecting the Senate bill, these members are effectively supporting the default tax increase for all, which kicked in at midnight. I thought supporting tax hikes was against their religion.

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