You're wrong. First of all, the bill that extended the tax rates until the end of this year was passed last year and signed by Obama on Dec. 17, 2010.The bill that was passed on August 1st was the Bush tax cuts.That bill is set to expire at the end of the year and neither party has any interest in extending them.
The bill I'm talking about was passed by the House in August of this year, and would extend the tax rates until the end of next year.
This is all a matter of public record. Google it and educate yourself.
Yes, we do need real tax reform, but that can't be done in just a couple weeks, and the fiscal cliff is coming up very fast.Both parties have said we need real tax reform to advert the fiscal cliff.At this point extending the Bush tax cuts is like putting a band aid on a bullet wound.
Republicans have been talking about closing loopholes and reducing tax rates for many, many months now. Even though that would result in greater revenues for the government, Obama and company aren't interested. They only care about sticking it to the rich, nothing but class warfare.
Obama and the Democrats want so bad to make the top 2% pay even more (even though they are paying more than anyone else) they are willing to let taxes vastly increase on everyone, and cause the economy to fall into a deep depression.
Fasten your seat belts because we're going to see 10% unemployment again, and the stock market will plunge 1500 to 2000 points.
Just remember that Republicans have put plan after plan on the table, yet Democrats have blocked every one of them.