Crossposted from Hillbilly Report.
In his shameless attempt to shield the greediest and least patriotic among us, himself included from sacrificing to the economy they crashed and the debt and deficit they ran up the Senator for Communist China Mitch McConnell is calling out all the stops. However, as always his arguments are not only selfish they show a simple ignorance of recent history. Today China's favorite Senator in Washington has unleashed a new talking point. "Wealth Destruction".
Indeed McConnell continues to fight to balance the budget on the backs of the 99% and seeks to give himself and those in the top 1% a free pass once again:
“We’re insisting on keeping tax rates where they are, first and foremost, to protect jobs and because we don’t think government needs the money in the first place,” McConnell said on the Senate floor.http://thehill.com/...
“The problem, as I’ve said, is that Washington spends too much. But if more revenue is the price that Democrats want to exact, then we should at least agree to do it in a way that doesn’t cost jobs and disincentivize rates, as we all know raising rates would do,” he said.
Which calls upon the question I openly challenge Mitch McConnell or any Republican anywhere to answer. If these tax rates are so great for the economy and create so many jobs, what the hell happened?? They have been in effect for over a decade and what has happened?? The economy crashed, millions of jobs were lost and our recovery has been sluggish at best with only a few jobs coming back. Where is all this bang for the millionaire buck McConnell speaks of??
He then went on to utter this ridiculous statement:
“The longer Democrats keep saying it, the longer it’s going to take to come up with an agreement,” he said. “The only reason Democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of liberalism.What a total hypocrite!! The holy grail of Conservatism has long been to redistribute this nation's wealth to folks like McConnell and sadly the last thirty years they have been very successful. If Mitch McConnell wants to see real wealth destruction, here it is:
“Their aim isn’t job creation, they’re interested in wealth destruction,” he said.
The vast majority of middle-class Americans say their financial well-being has been crimped over the last 10 years by sagging home values and dreary job prospects, according to a new survey.http://articles.latimes.com/...
About 85% of middle-class people say it’s tougher now than a decade ago to maintain their living standards, according to the Pew Research Center report.
The report reiterates what has become a common theme among demographers and economists: The financial status and outlook for the middle and lower classes has weakened while the fortunes of the wealthy have significantly brightened.
Median middle-class income dropped 5% in the 2000s, while net worth plummeted 28% — to $93,150 from $129,582 — as housing prices shriveled, the report said.
The middle class has steadily shrunk over the years, falling to 51% of the population in 2011 from 61% in 1971, the report found.
But the upper class’s share of national income has risen far more dramatically, climbing to 46% from 29% four decades ago. In other words, the rich have gotten much richer.
Here is a chart that sums up "wealth destruction" for the Senator for Communist China:
And all of this has happened while McConnell's precious tax cuts for the very rich have been in effect. Once again can anyone explain to me the benefits of these tax cuts for our country as a whole??
No matter how many lies McConnell decides to tell about the "fiscal cliff" negotiations one thing is clear. The Bush Tax Cuts for the very rich are doing one thing. Making the fortunes of middle-class Americans strongly resemble Mitch McConnell's teeth: