Well, it looks like the Piggish Pugs will get their stick-it-in-the-bank tax extensions for the phattest, flyest, flossin'est, biggest ballers in our country: The top 2% percent, baby! Mo money! Congrats LeBron James and Warren Buffett. Play on Playas!
Forget for a moment, that less than 3% of oft-touted “small businesses” net over $250,000/ year. Forget that the average $250,000 earner is really grossing $300,000-400,000 annually. Obama’s gonna sign this pig and then beg for another unemployment extension. It's pitiful.
The price-tag? North of $60 Billion a year. This decision nullifies the deficit reduction effects of earmarks elimination, President Obama’s proposed federal pay freeze, a 10 percent cut in the federal work force and a 50 percent cut in foreign aid — combined.
Let’s pause for a moment of silence, to envision what else could’ve been done with that $60 billion a year*:
· Tripled federal funding for medical research
· Funded universal preschool for 3- and 4-year-olds, with relatively small class sizes. James Heckman, a Nobel laureate at the University of Chicago, has written extensively about the economic benefits of high-quality early education. http://www.heckmanequation.org/...
· A complete top-to-bottom re-vamp of our infrastructure: roads, bridges, water systems and electrical distribution systems: the works.
· A 15 % reduction in corporate taxes.
· Spending $60 billion a year could also make college (tuition, room and board) free for about half of all full-time college students — at both two- and four-year colleges — in the country.
*source http://economix.blogs.nytimes.com/...