Tag Archives: Tax cuts

Politics

Thank you, Bernie Sanders…

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Well…there are stirrings of revolt in the middle and on the left about the bastardized compromise that Obama has fashioned on the tax cuts…he gave away the store to the thugs and extortionists without getting one thing that will help get the budget back under control without doing it on the backs of the middle class. The most sickening thing that I have heard out of the repubs is that we “all” have to sacrifice to make this happen…I have to ask, “what have the rich sacrificed?” Not a damn thing..but they right wants us to take cuts in UI, social security, and every other program that helps the little guy while making sure that their buddies won’t have to sacrifice a thing..in fact they can just keep saying more, more, more…and steal what little is left of the American dream.

That brings me to Bernie Sanders, the independent from Vermont who has promised to filibuster any bill that gives the store away to the rich…at least someone understands that this is not a county of, by, and for the rich and connected. Thanks Bernie, keep up the good fight…geez…

Politics

We’ve been betrayed…

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Well..I cannot overstate my disappointment with Obama right now…and his misguided march toward bipartisanship at any cost..especially when his compromise with the repubs is going to give them more ammunition to attack the progressives in the next election. Doesn’t he understand that when you give in to blackmailers, all they do is come back with larger and larger demands? What about us? The people that voted for him…when do we get anything that he promised to us? I guess the only hope now is that the congressional and senate democrats grow a spine and destroy this bill….but, I’m afraid it’s finally over….the rich have bought this country lock, stock, and barrel and the rest of us are left to our own devices as we slide down the ladder….

Politics

A “Target Rich” environment…

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Well…It might have been a good idea to keep the posts to a minimum over the weekend…events of today have made me laugh like a hyena…and so this one is going to be a two or three parter, or it’s going to have more than one subject..is it cheating to do that? Nope…these topics are related, in my mind anyway and I hope the absurdity of them makes you laugh, too..or cry…I was on the fence with my reaction.

The first part is the “revelation” that the newly-elected tea partiers have started to suckle at the teat of the K street lobbyists even before they are sworn in, never mind the pledge they made to change the “culture” of Washington…but it’s just a continuation of the tried and true conservative strategy of saying one thing to get elected and then laughing at the people that voted for them by voting against their constituent’s interests. What did you people that voted for these hypocrites expect? That they would be principled? that they gave a damn about you? No, these types are all about privilege and power as an end to itself…and duping the “little people” is all part of the game.

Next, is a subject that I have been shouting about for months now….and that is the blatant theft that the repubs are engaging in for the richest 2% of Americans…but I hesitate to call them Americans….they are not. They are just a greedy cadre that have learned the lessons of banana republics everywhere…those in power steal all they can with utter disregard for the people and the health of their society…and I am calling out the repubs here as I always will since they have elevated this theft to an art form…and their cynicism is breathtaking in holding up UI benefits for the middle class so they can bust the budget and give the proceeds to the rich. They are doing this when federal employees have just had their pay frozen for two years…and do you hear these middle-class people bitching about it…no, the consensus, at least from the comments I’ve read, is that they want to do their part to help in these tough economic times. The strange coincidence is that they are forgoing around 3% of pay increases in the next two years and if the Bush tax cuts are let to expire for the rich, they would pay about 3% more in taxes. Now, we can see who the real Americans are..those who think of more than enriching themselves, who think that everyone should do their part to help, and who don’t have an entire political party focused on stealing for them. Geez….

Politics

The Republican’s vision on display….

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Well…if your heart and the rest of America’s didn’t break a little when you heard of firefighters letting a couples house burn down because they didn’t pay a “firefighting fee”, then there is something seriously wrong with us and our society. But this is just the latest evidence of how the repubs vision for America will work for the little guy; how their “starve the beast”, tax cuts at all cost strategy impacts the real lives of citizens, from the homeowner in rural areas who has to pay extra for fire protection if they can get it at all, to the people of Detroit and other cities who see large areas abandoned by the police department because there is no way to raise the funds to hire officers to patrol. But, the rich still have the money to hire private police and, in some gated communities, their own fire departments who will, no doubt, sit and watch while houses outside their walls burn down because they have been successful in making sure there are no taxes available for these services for the rest of us.

What happened to the America where we felt and acted like we were all in this together? I think it’s a direct result of the repubs strategy to demonize our government and members of our society that are not like them. It’s easy to let someone’s house burn down or let them be robbed or murdered if they “haven’t taken care of themselves” or they don’t vote republican. As I said to T yesterday, “I’m glad I won’t be around much longer to see this wonderful country continue to decline” and I do believe the catch phrase that was first proposed in the comic strip Pogo from my youth: “I’ve see the enemy and he is us”…..geez….

Misc

Let’s end this tax cut nonsense…

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Well…have to clear a few things up this morning…you may have gotten the wrong idea from some of my previous posts that I’m just a run of the mill tax and spend liberal type…but that is not correct. I do believe that government has a role as referee between the people and the overwhelming force of the rich and business, but I don’t believe that the government is always right and always does the right thing. There have been many examples of pork on the right and left where politicians have used tax revenues as their own personal piggy bank and to reward the people and businesses in their districts. If these outlays are for the common good, then I can see where they are necessary but projects like the “bridge to nowhere” and increasing spending on the military industrial complex in the face of this deep recession is not something that should continue.

With that said, I need to get to the tax cut nonsense that is still being pushed by the right, in the face of all credible economic analysis telling us that these cuts did nothing to stimulate the economy in the years they were in place but cost us 700 billion dollars a year in revenue. One thing that the right will not tell you, or doesn’t want to emphasize in their attacks on the stimulus package is that a third of it was tax cuts…that’s over 250 billion dollars of tax cuts in the 860 billion package. In one breath they tell us that the stimulus failed and in the next they say that the only way to save jobs and grow the economy is more tax cuts that they just said don’t work. Is anyone else’s head about to explode with this blatant and cynical attempt to have if both ways? I know, I’ve talked about this before, but my ire was aroused by the new ads here in Michigan that keep repeating “the failed stimulus package” in attacks on the Dems here…while it is hard to prove prevention of the loss of jobs by the stimulus, it is not hard to look at the data and know that the rosiest projection of jobs created by tax cuts was under 1 million…over 8 years…compare that to the 22 million created when there was a sensible tax policy during the Clinton years.

Another tactic from the right that I want to deal with today is their method of calculating the cost of each job saved for the dollar outlay from the stimulus package; with those costs being estimated at wildly differing rates of 2 to 20 million dollars per job; but we know how bad the right is at math…they don’t believe in science so why should they believe in math? Well…that’s not quite fair, but lets look at the 3.7 trillion dollar total cost of the Bush tax cuts and compare it to the optimistic estimates of 1 million jobs added while the tax cuts were in force. Then, let’s compare that to the the 860 billion dollar cost and the generally agreed on number that there were 2.5 million jobs saved by the spending of the stimulus…don’t even have to be good at math to see that the tax cuts are a far more expensive way to create jobs…so, let’s end this nonsense once and for all…geez…

Politics

Let’s blow up some myths…

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Well…an interesting article in the times this morning by Paul Krugman, the Nobel prize winning economist, addressing the myth of structural unemployment in regards to the current recession. Before you righties start bitching that Krugman is liberal leaning so his ideas are not credible…let’s see your Nobel prize winner who disagrees with J. M. Keynes (hey, this could be the Keynes one that I promised you) and who has a credible history of being right…..ok, still waiting…..still waiting…yep, thought so…you don’t have one.

In an economy with structural employment driven by a lack of skills, you would have at least a few industries who would be running ads looking for workers; looking to expand but not being able to because of the shortage of skilled workers. But, that is not the case in this economy, there is no demand for labor since the demand for goods and services is not rising. No matter what their skill level. Can the right truly believe that an industrial worker trained in Kaizen, The Toyota Production System, or JIT, no longer has a use and that is why they are out of work. If that is the case, then the billions and billions of dollars spent on training and equipment for these programs by management was one of the greatest scams ever perpetrated on American industry. When did managing an American company change completely so that someone with a Masters degree in Management and 30 years in industry no longer is qualified to manage? The skill deficit of the American worker is a myth that needs to be exploded and not used by the right as an excuse to do nothing to get people back to work…but, that’s what they want…they don’t care about workers; only their rich buddies that can reward them with enough money to get re-elected so they can maintain their income redistribution scheme that will take 3.7 trillion dollars over 10 years from you and me and give it to the rich. That’s the first one…going to look at some news and come back for the others…

Okay…had lunch and wanted to get back to one other thing…the complete disdain that the right has for conventional economic thought that traces itself back to Reagan and his embrace of Arthur Laffer and his “Laffer curve theory” that cutting taxes will increase government revenue by stimulating growth in the economy. This kind of baloney has been discredited long ago by the CBO and other economic organizations and analysts that have shown that all the cuts did was to explode the deficit. Something that is conveniently forgotten, or deliberately forgotten so the right can pursue the radical agenda of giving away America to the rich. But the point I wanted to make was that while the repubs are railing against government intervention in the economy and discounting Keynesian theory, they propose an even larger government intervention by the continuation of the Bush tax cuts that would dwarf the 800 billion stimulus program of the Obama administration. Again, intellectual dishonesty disguised as cutting edge political thought…geez…

Politics

Let’s end the Republican lies on the tax cuts…

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Well…it’s pretty early and I could say that this burning issue has kept me awake all night…and part of it is true, I was awake part of the night….and it is early…oh, said that already. I did want to get into deflating the bullshit that the repubs have been pedaling about the continuation of the Bush tax cuts and how they are asserting that we need to renew those for the rich to get the economy going again. First, do they still think that anyone believes “trickle down” economics work? They have tried this little gem in every administration they’ve controlled since Reagan and the only results have been larger deficits and rewards for the least productive part of our economy. Let’s get to the lies next, that not extending the tax cuts for those making over 250K will hurt small business. Well…eliminating those tax cuts will affect only about 3 percent of what they call small business, but their definition of small business, includes some Fortune 100 companies….Fortune 100 means they are in the top 100 largest companies in America and includes some of the huge Wall Street firms and many of the super rich like Glenn Beck and Rush Limbaugh. It’s just another instance of the repubs protecting their own and lying to cover it up. Another little fact that they don’t want you to understand is that the 700 billion cost of continuing the cuts for the rich will need to be borrowed…yep, and pushed on to yours and my kids and increasing the deficit that they now seem so concerned about…

Then, we have the spectacle of Mitch McConnell yesterday saying that he will filibuster the tax cuts that Obama proposes for the other 98 percent of Americans, lying on the floor of the Senate that most of the American people support extending the cuts for the rich when it is just not true…polls show that from 52 to 65 percent of the public want them to expire…so, if you’re looking for true class warfare..look no further than the repubs…

Yeah, I’m still going to get to the Keynes stuff later…maybe not today but it is still something that I feel the need to comment on…

Misc

When did we accept going backwards?

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Well…I thought I was going to wait until this aft for a new post but an article by Paul Krugman in the NYT opened the floodgates to something that I have been thinking of for quite a while…when did we accept going backwards in this country? All I hear these days is that we can’t afford to pay our teachers, we can’t afford to maintain our roads, we can’t afford police or fire protection, we can’t afford any of the safety nets that keep people from abject poverty, that taxes are too high…but it’s not true. These are all lies that have been accepted by the populace because the repubs have been repeating them so much they have become accepted wisdom…but it is just the way the repubs do business..not unlike the lies the Soviet Union kept telling its people until they believed them. Think of what could be done with the 700 billion dollars that would come from letting the Bush tax cuts expire for the top 2 pct. Even if just applied to the deficit, it would make almost a 10 pct reduction per year.

But, that is not my point…my point is that when I was growing up, rising wages, new roads and other infrastructure projects, and a rising standard of living was what we strived for, was what was expected by everyone including politicians and the everyday worker…but today we’re being told what is not possible, that we have to cut back our expectations, that government is the problem, not the solution. The gains in the standard of living for the middle class that have been fought for over many decades is being destroyed by the blackmail of business that want givebacks or jobs will be shipped overseas as government stands by and gives more and more to the rich. All the while business is sitting on the largest hoard of retained profit in the history of the world…and I will ask the question I always ask: “how much is enough?”

I think we all need to ask ourselves what kind of country do we want? One that goes backward with more and more wealth concentrated in the hands of the rich or an equitable one where hard work is rewarded by good pay and benefits and we go forward, not backwards as a nation? Geez….