As¬† the debate over the national tax policy begins to take center stage¬† yet again, observers have noted that there will be more cases of¬† lawmakers breaking ranks within their own party over the issue in the¬† coming months, following the lead of several notable republicans, in¬† the shape of former House Speaker Newt Gingrich, Minnesota Governor¬† Tim Pawlenty and former Arkansas Governor Mike Huckabee in the recent¬† President Obama Tax Deal proposal.
The¬† primary goal for everyone concerned remains the same, and that is to¬† reduce the Federal budget deficit, but a number of other issues have¬† repeatedly threatened to take control of the debate. One issue that¬† could ¬†derailed any potential compromise was the extension of¬† former President Bush tax credits, which, despite costing the¬† government a total of $850 billion dollars in the next decade, is¬† seen as imperative in preventing the possibility of a double-dip¬† recession. The concession by the Democrats in this instance was¬† reciprocated by the Republicans in the Obama's Tax Deal.
We¬† look forward to more bipartisan compromises in future, as we have¬† seen over the years how ideological differences have seen¬† consistently landed the country with the second or third best tax¬† solutions, instead of the most worthy ones.
‚ÄĘ I think taxes are a necessary evil if people want services such as roads, libraries,local and federal government protection and other amenities.
‚ÄĘ I believe that the tax code should be simplified.is seriously in need of overhaul for the sake of the economy.
‚ÄĘ High property taxes discourage people from improving their property.