If you missed today's State of the Union with Candy Crowley on CNN you can read the transcript here. Her guest was the say-nothing-do-nothing Mitch McConnell. His attempts at justifying the Bush tax cuts to the wealthy and why they must not to be allowed to expire is just plain ridiculous. What have those tax cuts done to middle America and why do republicans think trickle down economics works when we can see clearly it does NOT.
This Donna Brazile article was in my small town paper today, she calls it "Cake for the rich and NO crumbs for the Poor". While GOP leaders like Jon Kyl and Mitch McConnell are championing extended tax breaks for big oil, big banks, and Wall St, "You never ever use taxes to offset spending" McConnell said, they were also working like crazy to obstruct Democrats from extending benefits to the unemployed. Republicans say the jobless will become dependant on the UI benefits and stop looking for work. America's jobless are the very same taxpayers whose personal paycheck taxes bailed out Wall St and the banks. Those "handouts " didn't seem to stop those guys from recovering! The GOP economic philosophy helps the rich escape paying their due and puts the burden on the vast majority of hardworking Americans. Tax-dodging is right in line with what some repubs are now demanding. They do not want to bring back the fair share of taxes on the wealthy, it's un-American they say!
Think people, think! Clinton balanced the huge deficit repubs left for him and handed a multi-million dollar surplus to GW Bush, he also taxed Wall St, big oil and big business. Bush took those taxes off and what was the result?
According to the Center on Budget and Policy Priorities "two-thirds of the nations total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households and that 1 % held a larger share of income in 2007 than at any time since 1928. The taxes removed from the rich enabled the top 1% to corner two-thirds of the nations increased wealth. Ya know how the righties are always crying about redistribution of wealth? Well, during the Bush era, republicans undertook a massive redistribution of the nations wealth by robbing from the poor and giving to the rich! So now our president wants to level the playing field and the right is hysterical!
The Congressional Budget Office says the Bush era tax cuts increased the deficit by $539 billion just in 2005. Between 2011 and 2018 those tax cuts will cost the government $3.28 trillion in lost revenue. Just one-half a days worth of these taxes would likely pay for six months of jobless benefits. At the rate cited above these restored taxes would finance health reform for decades! But alas, the GOP says "no worry", these tax cuts to the wealthy won't hurt government programs. They still argue the tax breaks for the wealthy are NECESSARY for the country to recover economically! The last time they tried that ended in 2008 when the economy nearly cratered for good!
Thanks to Donna Brazile and her insight into today's GOP idiocy.
You on the right who cry and complain about taxes, why aren't you looking at the big picture and demanding the top 1% pay their fair share? It makes no sense to me. Trickle down my ass!
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12 comments:
Again, simple Math. The rich cannot pay enough to pay off the 13trillion dollar debt. And cutting their taxes does not motivate them to hire more people, invest in start ups, or any other growth producing activity. Most will invest in technology to cut payroll (lay people off) or more likely invest in financial (bank) stocks now that we paid to put them back on sound, stable ground.
"You never ever use taxes to offset spending" McConnell said.
Well, that's just bullshit. ALL spending is either offset by taxes or it contributes to the deficit. Taxes are the way government gets income to spend.
People who vote for republicans obviously do not listen to what republicans say.
that's true Tom. The Bush tax cuts to the rich helped the economy grow?? Where pray tell!
Jerry you confirmed my post on the Godly righties voting republican for the simple fact God tells them to. It's the only explaination.
Yeah, about those tax cuts.....
Here's what St. Ronald Reagan did, but I'm sure that just MY revisionist history again. (snark)
http://firedoglake.com/2009/02/01/newsflash-ronald-reagan-raised-taxes-you-idiots/
thanks for the link Judi. Even when you show the righties the TRUTH they come back with some stupid excuse. They just can't admit they are failures, but we can keep showing them!
The last line from the article Judi linked to -- Ronald Reagan Raised Taxes (You Idiots)... [The Republicans] continuing need to transmogrify Ronald Reagan in order to gin up an excuse [for tax cutting] only underscores how morally impoverished, intellectually bankrupt and justifiably discredited the conservative movement is right now.
The Bush tax cuts were a giveaway to their wealthy constituents, nothing more. In fact, they are negatively impacting the economy.
Citizens for Tax Justice points out that in 2010 "an astonishing 52 percent of the [bush] tax cuts will go to the richest one percent". Incidentally, bush's tax cuts expire (or sunset -- on 1/1/2011) because they were passed by way of reconciliation, which circumvented a potential Democratic filibuster.
This was the same reconciliation tactic that, when the Democrats used it to pass health care reform, caused the the Republicans to cry foul, saying it amounted to Democrats thumbing their noses at the American people.
The Kennedy, Carter, and Reagan tax cuts for the rich also need to be repealed.
and thanks for all the links w! It's astounding isn't it, how utterly deaf, dumb and blind the rightwing nuts are by defending the incompetent boobs they have for leaders of the most hideous of political parties on the face of this earth...
The moronic monkey's tax cuts spurred a whole lot of economic growth. In China. "Deferral" managed to do to our economy what Hitler, Tojo, and Stalin could only dream of doing.
I think the fair thing to do would be to take 10% of the income of the wealthy and put it into a special fund for the poor - except for Republicans, of course.
There's something in the White House water supply.
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