But lo and behold here we go again. Republican "leaders" John Boehner and Kevin McCarthy show up on Fox News explaining to us all why we should brownnose greedy rich "patriots" and does Fox News even look for the truth?? No. They spew the talking points of disgraced Republican greed-meisters like gospel. Check the vid:
But what are they talking about?? Every American that makes less than $200,000 a year if they are single and $250,000 if they are married already know that their taxes are not going up. The only ones who are "uncertain" are the very rich, who may see their taxes raise by a paltry 3.5% after decades of breaks and after being the only "patriots" to have their taxes cut during a time of "war".
In fact, the Obama Administration has it in writing that they favor extending tax cuts for the huge majority of Americans:
In addition to closing loopholes that allow wealthy investment managers to not pay income taxes on their earnings and ending subsidies for big oil, gas, and coal companies, the Budget eliminates the Bush tax cuts for those making more than $250,000 a year and devotes those resources instead to reducing the deficit. Our Nation could not afford these tax cuts when they passed, and it cannot afford them now.
http://mediamatters.org/...
And in fact, contrary to what the Republican leadership who are beholden to big business and Corporations will tell you, tax cuts for the very rich are a poor way to create jobs as the wealthy will just put the money in their pockets and say to hell with the rest of us. Did we not learn anything from the Republican TARP bailout??
In fact, the CBO and many economists are in agreement that extending tax cuts to the greediest and least patriotic among us is a poor way to create jobs, stimulate the economy, or do anything but add to the deficit:
CBO: Extending tax cuts "does not create much incentive ... to hire more workers." Congressional Budget Office (CBO) director Douglas Elmendorf stated in February written testimony that "[d]eferring the scheduled increases in tax rates in 2011 would help some businesses" but that "increasing the after-tax income of businesses typically does not create much incentive for them to hire more workers in order to produce more, because production depends principally on their ability to sell their products."
Economists: Extending the tax cuts that benefit only the wealthy is poor stimulus. Howard Gleckman of the Tax Policy Center wrote that "higher income households are more likely to bank the cash than spend it. As a result, tax cuts for these high-earners will do relatively little to boost the economy in the short run." CBO has also stated that as stimulus, allowing only the top tax cuts to expire "would be more cost-effective" than extending all of the cuts "because the higher-income households that would be excluded would probably save a larger fraction of their increase in after-tax income." Nobel Prize-winning economist Paul Krugman also said of extending the tax cuts for the wealthy: "[I]t's hard to think of a less cost-effective way to help the economy."
The fact of the matter is that the very rich in this country have had a very good long run stagnating wages, hording the money, and crashing our economy. They have gotten away with not paying their fair share for too long. If they did not hate our country so much they would be more than willing to pay back into the system that allowed them to be so successful. Do they really believe they would be that rich in Communist China where they lovingly sent all our jobs to save even more of their money??
The truth of the matter is that we simply cannot afford to coddle these folks anymore. They have shown over and over their disdain for the American worker and indeed the American system that made their wealth possible. The paltry raise in their taxes means that for once they will have to pay for their own irresponsibility instead of making the American worker once again foot the bill as they enjoy their no-risk investments on our backs.
America could not afford these tax cuts when they were given. Now that the very folks who recieved them crashed the economy and ran up the deficit we can afford them even less. I have a great idea for them. If they hate our country so much why don't they just pack up and leave?? Take their money to Communist China, the only system in the world they seem to admire and see how long they keep it there.
If they had a conscience they would raise wages and pay their taxes and give all Americans the chance at the American dream most of them sat on their lazy asses and inherited. Only then can America once again the the bastion of hope for the world and a land of justice and equal opportunity for all. This is what the rich in this country fear the most. An American based on American principles of hard work and a fair days wage for a fair days work.
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