Punting on Taxes

The Wall Street Journal, Monday, November 22, 2010: Money Talks

During an interview with Treasury Secretary, Timothy Geither on taxes, China and “smoothing things over with business’, Gerard Baker asked Mr. Geither about the Bush tax cuts, due to expire on December 31, 2010.  Mr. Geither stated that the Obama administration would not like to extend “the high-end taxcuts” and that they are against  a permanent extension.”  There was then a statement by Mr. Baker about a temporary extension of the high-end taxes, “But if you don’t do something permanent, aren’t you just punting?  You’re just increasing the uncertainty, if you do end up with a two-year extension of the high-end tax.”

Punting is a football term for turning the ball over to the opposition.  For a fuller explanation go to http://www.sportsidioms.com and scroll down to punt.

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