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Posts Tagged ‘Tax cuts for the rich

Economic Know-Nothingism: Punish the Poor, Protect the Wealthy

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Their wars and tax cuts created the deficit. Now they want to profit from it and make scapesgoats of the poor.

Steve Benen 7/14/10 Washington Monthy

THE POLITICAL CONSEQUENCES OF ECONOMIC KNOW-NOTHINGISM…. Four months before the midterm elections, “virtually every Republican” in Congress agrees that the country can’t afford $30 billion in extended unemployment benefits, but it can afford $678 billion in tax cuts for the wealthy. Rep. Joe Barton’s (R-Texas) apology to BP instantly became a key moment in this cycle, as did Rep. John Boehner’s (R-Ohio) dismissal of the importance of the crash of 2008.

But this new issue is a development to build an entire campaign around.

This week, the Senate Republican leadership made one of the single dumbest policy arguments imaginable: policymakers shouldn’t even try to pay for massive tax cuts for the wealthy, because they pay for themselves. GOP officials see the overwhelming evidence that Bush’s tax policies helped produce a massive deficit, but they reject it, preferring to believe a ridiculous fantasy.

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Paying For Tax Cuts At The Top By Cutting Pensions For The Rest

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The first thing to remember is that the US will spend $1Trillion this year on WAR.

Paying For Tax Cuts At The Top By Cutting Pensions For The Rest

By Dave Johnson   Feb 17, 2010      OurFuture.org

Today’s new York Times has a front-page story (really an editorial) that promotes cutting the Social Security pensions of Americans and other things that we as citizens are entitled to.

Many analysts say the president and Congress could send a strong signal to global markets by agreeing this year to a package of both long-term tax increases and spending reductions, especially in the popular entitlement programs, that would not take effect until 2012.

Let’s remember how we got here.

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