How embarrassing! And here I was thinking that the Bush tax cuts didn't actually do anything. Man, am I eating my humble pie with a zircon encrusted spork, or what? Better getcher order in fast, though, there's a waiting list!
According to an article in Yahoo Finance:
If the rich have done well in the past few years, the extremely rich have done extremely well. Ferrari North America President Marco Mattiacci notes that the number of high net-worth individuals grew last year and is back to the level of 2007. "What has changed is that people now want to spend, they want to enjoy life," he says. While anyone can walk into a Ferrari showroom, it's very hard to walk out with one. "Our philosophy is always to deliver one unit less than the market demand, as a way to keep exclusivity," says Mattiacci. The current wait for a California coupe (price: about $192,000) is six to eight months. (Mattiacci himself drives a Jeep Cherokee, made by another unit of Fiat.)
It's old news, I know, but, just as a reminder...
The tax cut package angered liberals in the president's party due to the extension of the Bush-era tax cuts for the roughly two percent of highest-earning Americans, which comes at a cost of $120 billion over two years. They were also incensed at the level at which the estate tax was set in the measure, which exempts estates under $10 million for couples and taxes subsequent income at 35 percent.So what the Economic Policy Institute estimates that the debt/deficit deal will wind up costing the economy 1.8 million jobs by 2012. Oh puhlease. Heck, at this rate, they'll be hiring down at the Ferrari dealership!