Obama’s unwillingness to cut capital gains tax rates is having disastrous results:
The number of Americans filing for first-time unemployment benefits surged last week to a level not seen since October 1982, according to a government report released Thursday.
The number of initial jobless claims jumped to a much-higher-than-expected 626,000 in the week ended Jan, 31, according to the Labor Department. That’s up from a revised 591,000 in the previous week and the highest level since the last week of October 1982, when jobless claims reached 637,000.
Clearly, the cause is the Democratic unwillingness to make the Bush tax cuts permanent. What these people need is a serious cut to government programs and government waste so that the economy is stimulated.
In all seriousness, for those of you who think I am kidding:
The most sweeping of them, by Sen. Jim DeMint (R-S.C.), failed on a mostly party-line vote of 61-36. It would have replaced the White House-backed legislation with a series of tax cuts on personal and business income and capital gains at the same time it made cuts passed during the Bush administration permanent.
Tax cuts are, to Republicans, secular creationism.
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