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Archive for January 2nd, 2011
Dave Barry’s take on new tax law
Posted by taxguru on January 2, 2011
From his hilarious review of 2010:
…a partisan debate rages over what to do about the expiring Bush tax cuts. The Democrats, suddenly alarmed about the deficit, want to raise taxes on people making $250,000 a year — or, as the Democrats routinely refer to them, “billionaires.” The Republicans want to extend tax cuts for everybody, but compensate by cutting federal spending at a later date using an amazing new spending-cutting device they have seen advertised on TV.
Finally, Obama and the Republican leaders reach a compromise under which income-tax rates will stay the same for everybody, but the death tax will be expanded to include people who are merely hung over…
Obama, trying to sell the compromise, appears ambivalent, saying that “it is less than ideal,” but also pointing out that “it totally sucks,” adding, “I hate it.” Despite this smooth sales pitch, many Democrats are unhappy.
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