Showing posts with label tax cuts. Show all posts
Showing posts with label tax cuts. Show all posts

Tuesday, December 14, 2010

The People have spoken

From the moment the mid-term election results started coming in, Republicans have been repeating their new mantra that the people have spoken and the Democrats and their policies have been rejected.  With that in mind, the Democrats should stop trying to so hard to fix so many of the problems that are of the GOP's making.

First off, unemployment benefits.  My guess is that not everyone who is out of work today voted for Democrats in the recent mid-terms.  Perhaps it's time for them to learn what a Republican led Congress feels like.  Their unemployment benefits have expired and the GOP does not want to renew them without staggeringly irresponsible tax cuts for the ultra wealthy.  It's time for the Dems to stop protecting Americans from themselves and let them go into the new year with Speaker John Boehner and no more unemployment benefits.

Then there's the tax cuts.  To be more precise, a continuation of the tax cuts from 2001 and 2003.  Since the GOP rejected extending middle class tax cuts a few weeks ago, let the American people now see all their taxes go up because the Republicans want to give people like Bernie Madoff (before he was arrested) millions of savings on their tax bills.  Remember middle America, the Republicans didn't want middle class taxes to remain the same UNLESS the top three tenths of one percent of Americans could get a break on their estate taxes.  That's right, 99.7% of all Americans pay no estate taxes but the GOP is willing to put the economic well being of 98% of the country at risk in order to secure a lower tax rate for the top 0.3% of the population.

By rushing to the aid of the country that scorned them, the Democrats are merely setting the stage for things to improve under Speaker John Boehner.  If a majority of the country wants Republican leadership then let them have it.  Let them watch as the economy shrivels even more without the hardest hit receiving unemployment benefits.  Let them watch state governments are forced to lay off police officers, fire fighters, and teachers because of budget shortfalls.  Let them watch as China continues to fly past us in their super high speed trains carrying green manufacturing and the jobs that go with them.  Maybe by 2012 the American people will realize that they "made a huge mistake."  Or, maybe they'll just double down on their 2010 misjudgment and elect President Palin.

Wednesday, December 8, 2010

President Obama: "This is the public option debate all over"

In his pathetic defense of caving in on the tax cuts issue President Obama brought up the criticism he faced from the left over his abandonment of the public option.  He was fielding a question about compromising too much and his defense was that while the health care bill did not include the public option it had so many other things that Democrats had been fighting for.  The problem with his memory or interpretation of those events is that the public option was not a holy grail for Democrats.  It was a watered down substitute for what we really wanted and that was a Single Payer Option.  But since the President and the Democrat super-majority Congress was too weak willed to push for that plan, the result was compromising on the compromise.

Now that the tax cut deal has been back-roomed to placate the GOP and their ultra-rich benefactors, similar criticisms are coming out that he did not negotiate tough enough and did not stick to his principles or his campaign promises.  The Republicans, meanwhile, get to hold up their banner of stubborn obstructionism and celebrate yet another capitulation by the spineless Democrats.

Again the fault for this travesty lies with the Blue Dogs in Congress who had threatened to vote against a tax cut for the middle class bill in the lead up to the elections, and to the Obama White House that did not push Congress to act before the midterms, and to the fickle electorate that somehow thought that putting people in Congress who care only for the rich would somehow help the country.

The next time you hear a Republican complain about losing their unemployment benefits, or about increasing deficits, remind them that 700-900 billion more dollars were just added to the deficit so that Sean Penn, Susan Sarandon, Michael Moore, and Keith Olbermann can save some money.

Friday, November 19, 2010

Tax Cuts for the Rich = Senate Majority for the GOP

Hey there spineless democratic senators, how's it going? Bummed about the recent election? Having a hard time sitting down with all those GOP foot prints on your ass? Yeah, I bet that hurts. But you know what's going to sting even more? The 2012 elections if you sissies don't get your tactics figured out. Now that Nancy Pelosi has finally drummed up the courage to say they'll put forward a "tax cuts for the middle class only" bill before the end of the year, it is up to you, the deliberative donkeys to break a filibuster and pass the "dang" bill.

It seems to me that if your staffers have not made the case to you already, you should fire them all and get competent aides who can actually help you figure out what you need to do to help the country and keep your seats. If, and sadly it's not that improbable of an if, a few of you Senate Democrats decide to jump onto the GOP filibuster and say "but now isn't the time to raise taxes on anyone!" then you have assuredly handed control of the Senate and possibly the White House over to the Republicans come 2012. Your defection from your fellow Democrats will be seen as proof both to the GOP and the American public that tax cuts for the middle class only is wrong.

So instead of being gutless wimps and voting to prevent the tax rates on the richest 2% from returning to where they were under President Clinton (boy were those bad economic times, right?) dig deep and find some courage. Go borrow some from Bernie Sanders or Russ Feingold if you need to, and then vote FOR the middle class tax cuts. Even if the bill doesn't pass because you can't get a single Republican senator to help out the middle class, USE THAT! Plaster your states with advertising denouncing the GOP for raising taxes on the middle class. Get on CNN, MSNBC and even FoxNews and chastise your Republican colleagues for forcing a tax hike on the American people. BUT do not cave in before forcing them to vote no on tax cuts for the middle class.

Monday, November 15, 2010

Simplify the tax code?

A very common argument that echoes through the halls of Congress is that the tax code is too complicated. The number of pages that comprise the tax code are often lauded by Senators or Congressmen looking to get on television. Those that would like to see a flat rate tax often use the length of the tax code as proof that it is bad. But so rarely is this lengthly tax code explained to the American people.

Well, listen up. The reason the tax code is so long and complex is because WE the people have continued to support politicians who give us tax breaks/cuts based on things we and our families do. Things like tax cuts for energy efficient home renovations; paying student loan interest; paying mortgage interest; donating to charities; and all the other thousands of things that people are able to claim every year in order to save some money on their taxes.

Simply put, those thousands of pages of the tax codes are thousands of pages of ways we Americans can SAVE money on our taxes, and so any effort to "simplify the code" will undoubtedly be met with strong opposition and the accusation that those trying to "simplify the code" are plotting a tax hike for hard working families. Many of the credits are aimed at the middle class which explains why the regressive taxers (those that want a flat tax across the board) are so keen to "simplify the code" and eliminate these tax credits for working families in exchange for lower tax rates on the rich.

As with all things parroted around the capitol and on Cable News, it is important to understand what the buzz words really mean in order to figure out the right course of action.

Friday, October 31, 2008

Tax cuts (continued)

I just read some more tax cut nonsense at OColly.com and I wanted to remind people that this tax cut nonsense is a fake issue that the Republicans have been championing for years. It's great for those making millions of dollars and it hurt those making tens of thousands of dollars. In exchange for their new yacht your children lose their after school programs or the bridges go without vital repairs.

I tried to explain my biggest issue with tax cuts in this election cycle at OColly.com and we'll see if the comments show up, but just in case they don't here they are:

The problem with all this nonsense about “wealthy people getting taxcuts and creating jobs” is that just because a big corporation or a wealthy individual has some extra money is no guarantee that they will invest in labor (american) or infrastructure. Given the downturn in the economy they might realize that no one in the bottom 95% of workers can afford their goods so they won’t need to hire any more employees or expand any operations. If the 95% gets more money back though, they will spend it on essential goods and services and boost the national economy. Companies expand because there is a demand for their goods or services, not just because they got a tax cut.

Tuesday, October 21, 2008

Tax cuts tax cuts tax cuts

I am sick to death of all the focus on bloody tax cuts! Obviously, if i was earning the kind of money that the top 1% of America earns my views might be a little different since I'd be looking at millions upon millions of saving from a President McCain over a President Obama. But I do not make millions of dollars. I do not make hundreds of thousands or even a hundred thousand. So my potential "tax cut" (read unpaved roads and collapsing bridges) is likely to be a modest sum no matter who is elected. What's amazing is that this puts me in the same boat as most Americans but for some reason this great majority of the country is so easily motivated by a few hundred to a few thousand dollars that they'd give up countless investments towards their and their children's health and education, for a new Chinese TV from Wal-mart.

Let's be honest, things like the Economic Stimulus package that dropped 600-1200 bucks in the laps of all American workers was not a stimulus to the American economy but rather, a giant hand-out to the Chinese economy that produces all the crap Americans spent their checks on. The same goes for tax cuts for the vast majority of Americans. We don't need a $600 check because a $600, or even a $6000 check is not going to mean the difference between sinking and swimming in this day and age. On the other hand, taking that money and investing it into our communities, whether it be through infrastructure improvements like roads and bridges, or hiring more teachers, or creating after-school programs would all create jobs here in America and improve the standard of living of the country as a whole.

What's the point of chanting some assinine phrase like "united we stand" if at the same time we are unwilling to help our fellow countrymen. What possible excuses can we make for America's embarssingly poor statistics on infant mortality? How can we the majority sit back and say "thank you" for a thousand dollar tax cut while people like Richard Fuld of Lehman Brothers receive millions?

Someone once asked me why not have a flat tax? Why should you be taxed at a higher rate just because you earn more? Well so far my best reasoning behind progressive taxes are the following:
1) The rich have far more control over how tax dollars are spent
This may come as a surprise to some people who have never watched the news or read an article, but the rich of this country have a far louder voice than the poor in determining how the nation's treasury is spent. Not only is a $200,000/year salary seen as poor by Senate standards but the rich, through expensive fundraisers and the lobbying system have a framework to get their concerns voiced in Washington with a far greater level of efficacy than anyone earning the nation's median income.
2) The rich benefit to far greater extent from the nations spending
Since they have more control over how the country spends its money it is little surprise that they benefit from that spending to a greater degree than average citizens. Owners of large corporations can lobby politicians to receive government contracts and subsidies. American corporations benefit greatly from America's presence overseas as they gain access to new markets and consumers. Were it not for America's military superiority (an enormous amount of our annual spending) American corporations would not be able to set up shop so freely throughout the world and rake in so many profits.

These are just 2 reasons for maintaining the progressive tax structure but there are many more. For these reasons I am asking the American people to please stop voting based on a tax cut. It's not helping you. The American people have received more tax cuts over the last 8 years than they did in the previous 8. What has happened in that time? The national debt has balooned from $5 trillion to "ten toushand billion" dollars as the British would say. The economy is in crisis and people are feeling poorer than they have in ages. STOP ASKING FOR TAX CUTS! THEY AREN'T HELPING! The only people who benefit from tax cuts are those making hundreds of thousands of dollars or more. Are you?
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