Well At Least they Won't Hike My Taxes: Middle Class Tax Cuts Might Pass

At least I'm not going off the cliff according to the GOP Doomsday Plan.

Republicans are seriously considering a Doomsday Plan if fiscal cliff talks collapse entirely. It's quite simple: House Republicans would allow a vote on extending the Bush middle class tax cuts (the bill passed in August by the Senate) and offer the President nothing more: no extension of the debt ceiling, nothing on unemployment, nothing on closing loopholes. Congress would recess for the holidays and the president would face a big battle early in the year over the debt ceiling.

This is the ultimate can kick. No consensus on anything other then messing up the middle class with a tax hike. If they make them permanent though I would support that move. If I can lock in 15% dividend taxes and 25% short term capital gains taxes for 2013 then I would take it for now. However, any meaningful tax reform should make these rates 0%. The idea of capital gains and dividend taxes for middle class taxpayers are anathema to me.