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Occasionally our political process, either by accident or design, leads us to a moment of clarity. We're at one now.
GOP senate minority leader, Droopy Dawg McConnell (R-KY), sent a letter to Harry Reid (D-NV) bearing all 42 GOP senators signatures. The letter stated that every senate Republican would vote to block ALL lame duck legislation until the wealthiest Americans get their low income tax rates extended.
When seedy and shady characters create a hostage situation, there's usually a ransom note. McConnell's letter to Reid is that ransom note.
Not only does the ransom note describe how senate GOP'ers will destroy any legislation attempted in the lame duck session before tax cut extensions are passed.....but it also states, unequivocably, that without the extension of tax cuts for millionaires and billionaires.....Republicans are going to have to shoot the hostages.....
Given our struggling economy, preventing the tax increase and providing economic certainty should be our top priority. Without Congressional action by December 31, all American taxpayers will be hit by an increase in their individual income-tax rates and investment income through the capital gains and dividend rates. If Congress were to adopt the President's tax proposal to prevent the tax increase for only some Americans, small businesses would be targeted with a job-killing tax increase at the worst possible time. Specifically, more than 750,000 small businesses will see a tax increase, which will affect 50 percent of small-business income and nearly 25 percent of the entire workforce. The death tax rate will also climb from zero percent to 55 percent, which makes it the top concern for America's small businesses. Republicans and Democrats agree that small businesses create most new jobs, so we ought to be able to agree that raising taxes on small businesses is the wrong remedy in this economy.
Therein is the clarity I was referring to. The Republican Party only gives a good goddamn about America's wealthiest.....the top 2%. Republicans only have one constituency....it's the wealthiest 2%.
Take special note of the "death tax hitting small businesses" bullsh*t.
Let FactCheck.org correct McConnell and the Republicans' lies.....
The fact is that repealing the estate tax entirely would benefit mostly non-farmers and non-business-owners.
...less than 3 percent of deceased adults in 2002 had estates subject to the tax,...
So, the Republicans are lying.....which, after tax cuts for the wealthiest, is what they do best. But it's not just the estate tax which Republican senators lie about in signing McConnell's ransom letter. They're lying about the small business numbers as well.
Non-Partisan Joint Committee On Taxation Report Actually Says That 50% Of Total Business Income — Not "Small Business Income" — Will Be Taxed At Higher Rates. According to the non-partisan Joint Committee on Taxation report on President Obama's proposals: "The staff of the Joint Committee on Taxation estimates that in 2011 just under 750,000 taxpayers with net positive business income (three percent of all taxpayers with net positive business income) will have marginal rates of 36 or 39.6 percent under the President's proposal and that 50 percent of the approximately $1 trillion of aggregate net positive business income will be reported on returns that have a marginal rate of 36 or 39.6 percent. These figures for net positive business income do not imply that all of the income is from entities that might be considered 'small.'
The vast majority of individuals who report business income or losses are not making upwards of $200,000 a year. In fact, only 2 percent of all those reporting business income in 2009 will earn enough to fall in the top two brackets.
Finally, the GOP ransom letter mentions jobs. In the midst of all the lies about small businesses being hit if tax rates expire and the zillions of inherited estate owners who will be forced to live under bridges if forced again to contribute to the nation.....in the midst of all those lies comes the Big Lie.
The Big Lie is that lower tax rates on our richest creates jobs. This is such an obvious lie you might think it would have been swept up into the trash by now.....anyone bringing it back out of the trash ridiculed and mocked. Not with today's media.
The truth is that Clinton raised taxes on the wealthy....up to 20 million jobs were created during his presidency. Higher tax rates during Clinton did not impede job creation....not one freaking bit. On the other hand, George W. Bush lowered taxes, dramatically and unevenly in favor of the richest Americans. His presidency netted....wait for it.....ONE million jobs created.
This is a moment of clarity. Republicans only....repeat, only.....give a damn about the top 2%. That is why the party exists....to do the bidding of the top 2%. Republicans will do anything in order to serve that top 2%. They will hold the entire nation hostage and they will purposely lie and deceive to please that top 2%.
And by god, they'll even put it in writing.
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