About This Blog
I have long understood that all the craziness, insanity really, that we've witnessed over the last 18 months, all the corporate media bobble heading about such things as the economic stimulus, national health care, and financial reform could be reduced down to one common and simple denominator....
The Bush-Cheney tax cuts end in 2011.
I'll say that again....
The reason that corporate media played every townhall bustup they could find on a 24/7 loop during the entire summer of 2009.....the reason that Village media deception artists continue to take America's craziest people seriously...people like Limbaugh, Beck and Palin,....lately Rand Paul and Sharron Angle....the reason that a cartoonish Tea Party "movement" is spoken about as anything other than a prefabricated box of rocks.....IS...
The Bush-Cheney tax cuts end in 2011.
It certainly is not breaking news that America's current economic problems were brought about by reckless, apparently uncontrollable and insatiable...greed. Some non-sentient conservative beings will argue otherwise, of course,....but who cares? Those conservatives have been wrong about almost everything over the last 30 years.
Those who have paid the slightest bit of attention during the past few decades know that America, shamefully, has fully adopted the Gordon Gekko model...."greed is good."
We're all Gekkoians now.
Those who want the Bush tax cuts to be made permanent, Republicans and their overpaid media Lapdogs, also don't want Americans to know this.....
· The single largest contributor to the increase in the projected long-term deficits has been the Bush tax cuts, amounting to more than half (51 percent) of the $2.3 trillion that has been added by legislation to the deficits between 2001 to 2006.
The Bush tax cuts have delivered $715 billion to the wealthiest one percent of the country over the last ten years, and extending the cuts would give households in that one percent $60,000 in additional breaks per year, with millionaires receiving a $150,000 annual break. Over ten years, that amounts to another $1.2 trillion in lost revenue.
..or understand this...
The top one percent....those whom Dick Armey's Tea Party minions have been working hard for....stands to lose, on average, $60,000 per year if Bush's tax cuts are allowed to expire in 6 months. Millionaires stand to lose $150,000 per year.
Ironically....not to those who are beyond irony....but to me, the huge increase in deficits, deficits that Village Media deceivers and Republican propagandists go on and on about, clutching pearls and wringing their hands incessantly in the process.....were primarily caused by the same Bush tax cuts that GOP'er and Villagers are fighting to maintain.
Here's one example from the "liberal" Washington Post, which illustrates what I'm getting at...
Staff writer, Frank Ahrens, puts on his Gordon Gekko suit.
I started with Peter Boockvar, equity strategist at Miller Tabak.
My e-mail was short: "Double-dip or slowdown?"
His response was equally abrupt: "Depends on who wins Nov. elections and what taxes get hiked in 2011."
The tax cuts enacted by President George W. Bush expire at the end of this year. President Obama has proposed extending those cuts -- except for families that make more than $250,000 a year. If Republicans win Congress in November, it's a good bet that the wealthiest Americans will keep their tax cuts. If the Democrats hold the Hill, it's unlikely.
"Our fragile economy CANNOT handle any tax hikes whatsoever, particularly on capital and the income of those who invest, save and spend the most," Boockvar wrote, meaning those American families that make more than $250,000 a year. The all-caps are his, but the feeling is shared by many.
I cannot overstate the importance of this sentence....
"If Republicans win Congress in November, it's a good bet that the wealthiest Americans will keep their tax cuts. If the Democrats hold the Hill, it's unlikely."
Now, let's take a trip down the last 18 month's memory lane, you know, to put everything in perspective.
Rushbo declared that he wanted Obama to fail at just about the same time the Activist Judge, John Roberts, botched Obama's oath of office. Rick Santelli's and Dick Army's Tea Partys began three weeks later. The summer of 2009 brought a flood of incoherent townhall buster-uppers who were mad...about something. Then came more Tea Partys. "Death panels" were sighted behind every health care rock. Followed by a crescendo of screeching that Obama, a moderate pragmatist, was in actuality, Mao back from the dead. There were the loaded weapons at political gatherings, the spitting and expletive-shouting at black Democratic representatives.
When health care passed, despite the new Republican President Scott Brown replacing Ted Kennedy, we saw the "state sovereignty" movement file bogus lawsuits against the implementation of the health care legislation.
Now the Village's focus is on the totally bogus and contrived new immigration law in Arizona. Governor Jan Brewer knew going in that Arizona's new law was unconstitutional.....but the point wasn't about legality....the point was about rallying the already-angry conservative nut-base.....again. Rally the nuts to come out and vote to return Republicans to the House majority this November. Keep the crazies angry
If Republicans take the House back....as the Washington Post's interview of the "equity strategist" clearly stated....
"If Republicans win Congress in November, it's a good bet that the wealthiest Americans will keep their tax cuts."
And that is what all the craziness, all the stupidity, all the outbursts, and all the "anger" that thoughtful Americans have been shaking their heads over these last 18 months.....has really always been about.