You all probably know about the recent tax cut bill that was signed by our President. Yes, it did include an extension of the Bush tax cuts for another two years, according to CNN:
The package includes a two-year extension of the Bush-era tax cuts, which are set to expire December 31. It also would extend unemployment benefits for 13 months, cut the payroll tax by 2 percentage points for a year, restore the estate tax at a lower level and continue a series of other tax breaks.
I am undecided on this, though. I don’t think we are getting all the news. I mean I appreciate the extension of the Bush tax cuts, they certainly help the real estate investors on capital gains tax, but extending unemployment again? And what about the other inclusions which we haven’t been told about?
Extending and/or increasing government hand outs like unemployment really hurt the economy (including real estate) in the long run. The best thing our government could do for us is to cut government spending and eliminate needless arms of government. Quit saying “security” and start saying “freedom”. They really are polar opposites.