IBD: Congress Has Left a Ticking Time Bomb
This is from Investors Business Daily, from an editorial last Thursday:
To be clear, the time bomb goes off sometime in 2008 (just in time for Hillary to blame it on something else), because if investors lose confidence that the current tax structure will stay in place, they will slow down capital spending, which will slow down economic growth.
It’s extremely disappointing that there’s not enough will to make what is clearly working permanent, even when the supposed party of tax cuts and economic growth is in power. It’s doubly disappointing that if the political landscape is different in a couple of years, inaction alone would enable the bomb to go off. If things go right, the bomb squad should be called in ASAP — meaning November 8, 2006.
