It is painfully obvious that the R's are holding up the extension of the $250,000/year and below tax cuts, in order to DEMAND that the wealthiest among us (them and their friends) get to keep their mammoth 2001 tax cuts. The argument makes sense, in a parallel universe sort of way: tax cuts for the wealthy means a stimulus to the economy ('trickle down'). But they have had this tax rate for nearly 9 years, and what has happened? Huge job losses, economic bubbles, and financial disaster.
I say, let it expire, and see what R's can come up with - make them negotiate across the aisle to get a tax relief package passed. But, we'll see.....
As an aside, the Dems do seem to want to Tax and Spend, unfortunately. More unfortunate however, is that the Repubs want to BORROW and SPEND. We went from a demand for a balanced budget during the election, to now the R's are agreeing to increased spending (extension of unemployment) if only they can pretty please get the tax cut for Paris Hilton, et al.
If this is the best our country can do - a bunch of mealy mouthed pols, out to help themselves and their party first (Mitch McConell just stated recently that his main concern was denying Obama a second term. Shouldn't his concern be getting the economy out the ditch, or fixing the defecit, or hell, anything regarding what is happening with the country????) then maybe we are, sadly enough, at the twilight of our existence.
I don't believe that last line though - America is the greatest country on earth, and I foresee us figuring out this problem, just like we have so many others......and coming out on the top of the heap. It just might be a painful few years of wrestling our way through this current mess.
I will step down off my soap box now.