Congress Risks Economic Catastrophe
…as it secretly raises taxes – The US Congress yesterday defeated a seven hundred billion rescue passage for America’s financial system even as it let stand the Alternative Minimum Tax, meaning that twenty three million Americans will pay an average of $2,000 more in taxes next year. The tax will be extended to cover more average Americans than ever before. At the same time that our taxes are going up, if some effective rescue plan is not passed, the average small business and average individual is going to find it impossible to do things like renew lines of credit that are essential to running everything from stores to law firms and medical practices. Large corporations with high credit ratings will be first in line for any loans that are available.read more