Dems giveth: Extend Bush’s Middle Class Tax Cuts

Two days ago the news was: Extend Bush’s Middle Class Tax Cuts:

Just when you thought Congress was spent — literally — and done for the year they’ll turn around and surprise you. No money left to do anything? United Republican opposition? Democrats are planning to take on the great white whale of spending: extending President Bush’s middle class tax cuts. The cost is estimated from $1.6 trillion to extend them to as much as $2.7 trillion to make them permanent. According to Senate Democratic sources, the latter is what they’re going to go for — and they’re planning to do it before the midterm elections.

And the Dems taketh away yesterday: Geithner Quashes Hopes Of Bush Tax Cut Extension:

Following comments from Senate Democrats expressing willingness to extend Bush tax cuts, the White House dispatched Tim Geithner to kill the buzz.

Tim just announced Obama’s plans to let the tax cuts expire for wealthy Americans in January, according to WSJ. Which is what people expected all along.

Wall Street and the economy just love knowing what’s going to happen.


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