Midyear tax tip #8: Get charitable
New tax laws now in effect

2010's expiring tax cuts likely to be dealt with by a lameduck Congress

Giant sausage The old saying about not wanting to see how the sausage is made applies perfectly to our federal legislative system. Whether you love the eventual outcome or find the resulting laws completely unpalatable, the process tends to be nauseating.

Well now there's word that Capitol Hill is going to shut down its legislative sausage factory, at least when it comes to some critical taxes.

Democratic leaders are likely to punt on taxes, reports Alexander Bolton in The Hill newspaper, thereby pushing the task of renewing Dubya's sunsetting tax cuts until after November's midterm elections.

That will mean voters won't have a clear idea of their future tax rates when they go to the polls.

This will really help with the anti-incumbent sentiment. Not!

Does this mean that the tax extenders that many individuals and their tax advisers are wondering about will be pushed to the brink, too? And let's not even get into the morass that is the now-nonexistent federal estate tax.

Remember: Not making a decision is a decision.

And putting off decisions until the very last minute (a la the homebuyer extension) often make for very bad laws.

I understand there's recalcitrance from the GOP, but really, folks. This is starting to get beyond the absurd.

To borrow a phrase, can't we all just get along and act like adults and professionals? 

What ever happened to doing what is best for the country, not just what benefits a political party?

It's so sad that apparently there are no longer any statesmen or women in Washington, D.C.

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