May 31, 2011
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What a bunch of heartless, spineless SOBs the Congressional Republicans are. Here’s a bunch of folks with cushy offices, fabulous healthcare benefits, full retirement package and they don’t want to grant any disaster relief funds to the working-class folks of Joplin, Missouri devastated by the May 22nd tornadoes. Eric Cantor is insisting that any aid dollars have to come out of new cuts to the federal budget.
How about cutting the tax cuts for the rich or those subsidies for big oil?
But we know those sacred cows won’t be on the cutting board. The nation’s fiscal health is not so important that big corporations and fat cat executives should have to pay their fair share. No, the GOP will find still another program that helps the elderly or the unemployed or sick and hungry kids. That’s where the cuts will come from.
May 16, 2011
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Rep. Paul Ryan is striking back at those who have characterized his budget proposal as “class warfare.” The eloquent Mr. Ryan can use all the fancy phrases he wants but his approach to deficit reduction is based wholly on taking from the poor and middle classes and giving to the rich and the corporations. Period, end of story. Let’s look at a few of this protestations in his speech to the Economic Club of Chicago.
“Playing one group against another only distracts us from the true sources of inequity in this country — corporate welfare that enriches the powerful …”
Yet the Ryan plan reduces all benefits to the unemployed, the poor, the homeless, the sick, retirees, children, students, while offering still more tax breaks to the wealthy and big companies.
Mr.Ryan continues: “if we surrender more control over our economy to the governing class — then we are choosing shared scarcity over renewed prosperity, and managed decline over economic growth. That’s the real class warfare that threatens us: a class of governing elites picking winners and losers…”
But the Ryan plan does exactly that. It establishes federal policies that hugely favor a small number of successful Americans and channels still more wealth to those who are already “winners.” It’s a continuation of the Republican philosophy that says if you’re not successful it’s your fault, you ought to be punished for it and you don’t deserve any help.
No GOP spokesperson can utter more than two sentence before they begin to complain about how uncertainties surrounding Obama policies are stalling business growth. Fear of taxes and regulation have corporate executives hiding under their desks, they contend. Whatever these “uncertainties” are however they aren’t preventing CEOs from filling their personal coffers at record levels, as if the Great Recession never happened.
An AP analysis shows that CEO pay increased 24% in 2010, to an average of over $9 million. Maybe they deserve it though. It’s probably stressful figuring out where to park the yacht, what color to paint the vacation home in the Bahamas, and keeping the Mercedes tuned up.
By the way, the average hourly worker’s pay went up 2.1%.
Somebody finally admits it: uncontrolled federal spending didn’t get us into the Great Deficit, GOP tax cuts did.
|The biggest culprit, by far, has been an erosion of tax revenue triggered largely by two recessions and multiple rounds of tax cuts. Together, the economy and the tax bills enacted under former president George W. Bush, and to a lesser extent by President Obama, wiped out $6.3 trillion in anticipated revenue. That’s nearly half of the $12.7 trillion swing from projected surpluses to real debt. Federal tax collections now stand at their lowest level as a percentage of the economy in 60 years.
There it is in black and white. We aren’t collecting enough in taxes. But the Republicons continues to insist on cutting taxes for the wealthy and blame deficits on sick elderly people and poor folks on welfare.