|
The proposal to extend upper income tax cuts for two years (or two months or two days) is horrible. The wealthy have not pulled their fair share of the expense of our society in the last 30 years, and particularly not in the last 10 years. When one factors in the unaccounted cost of not one, but two, foreign invasions/occupations, the budgetary shortfall is badly exacerbated, and any benefit that accrues from this military adventurism has gone almost wholly to the upper income stratum, which has been notably absent from actually doing any fighting or dying in Iraq or Afghanistan.
Next, the public expressions of concern over the federal budget deficit, and its anointment as The Most Important Issue Facing Washington, is completely ignored when the cost of extending upper income tax cuts, which seems highly hypocritical. To me, at least. The persons doing most of the yammering for high end tax cuts are multi-millionaires in Congress (particularly on the Republican side of the aisle, such as Eric Cantor, John Boehner, and Mitch McConnell), and at least until the next Congress convenes, about all they have to oppose any proposals is a threat to say mean things. Conversely, and against their own logic, these same Republicans demand that any extension of unemployment benefits must be paid for before they'll even agree to consider it.
I submit that regardless of what the Democrats do or don't do, Republicans will continue to say mean things, and they will enlist their pals in the popular media (do I really need to identify them by name, too, or can you figure that out for yourself?). So if they're going to say mean things about Democrats anyway, why shouldn't Democrats do the right thing? In this instance, extending unemployement benefits and reinstating unemployment benefits for those who have had their benefits run out will have the stimulative effect that everyone says they want to see. The unemployed take those benefits and spend them right away, and they have a multiplier effect in the economy. Whereas additional money in the pockets of the wealthy is simply sent haring off around the world in search of the absolute best return on investment; it generally doesn't get spent.
So, instead of following a responsible economic course, our Democratic political leaders seem to have locked themselves into an unfunded major tax giveaway to the overclass (who would still benefit from a cut to their first $250,000 of income), and telling dissenters in their own party to like it or lump it, it's going through anyway.
Sorry to have been so obtuse.
|