Economic idiocy.

The Media is doing everything it can to extend the power of the defeated Democrats in Congress. As usual, they are clueless about how the economy works. Democrats want to allow the tax cuts of the Bush area to expire and raise taxes by doing so. Especially tempting for them is to raise taxes on upper earners making more than 250,000 a year. They refer to this as "tax cuts for the rich." In reality, Republicans are fighting to preserve CURRENT TAX RATES.

Most small businesses file their tax return as sub chapter "S" returns and so the overwhelming majority of incomes above $250,000/year represent small business income. Raising taxes on that would automatically prolong the Recession. That is not all the harm that would come from raising taxes now. The Stock Market would take a big hit, because if the current tax rates are allowed to expire, capitol gains would go from 25% to 30%. Why would that be bad? Because Investors would sell their stocks now (before TAX RATES WENT UP), precipitating a Stock Market retreat.

SenateRepublicans pledged to filibuster anything the losing Dems want to bring up unless the current tax rates are preserved. The Media refers to this as "holding the Nation hostage," as if the losers of the last election are entitled to slip in one more dose of their idiocy before they get out of town.

What idiocy - you say. Read the AP story dated Nov 30. It echoes Nancy Pelosi that unemployment compensation grows the economy. They cite figures that every dollar spent on unemployment cause $1.6 growth in the economy. No wonder the recession goes on and on.