Sometimes it’s not advisable to negotiate with the devil, but President Obama was forced to do just that over the bailout for the rich and the extension of the unemployment benefits.
It was announced yesterday that President Obama struck a deal with Republicans on a two-year extension of all the Bush-era tax cuts in exchange for a 13-month extension of unemployment insurance benefits. It’s very hard to negotiate with someone who is only concerned with making you look bad and defeating you, is not interested in governing and is only concerned with protecting the richest 2 percent, but this crappy deal may be the best we can do.
Republicans claim that they care about the budget deficit, but the tax cuts to a group that already controls almost 24 percent of income in this country will add more than $36 billon to the federal budget deficit. It was either the tax break for people who don’t need it, or a tax increase to the middle class that will surely stall the climb out of the Bush recession.
The Bush tax cut was enacted because we had a budget surplus under President Clinton, but the tax cuts that were set to expire at the end of the month not only got rid of the surplus, but it helped create a huge budget deficit. So, Republicans want to give millions more to the rich, but nothing to the middle class.
The debunked argument they use is that if we don’t extend the tax cut to the rich, they, the alleged job creators, will not hire people. However, they are ignoring the fact that corporations are already earning huge, record profits right now with the tax cut.
American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released last month, so with the tax break and record profits they are not hiring. This is the highest total since records have been kept.
The growing gap between the richest 2 percent and everyone else is turning the United States into a banana republic. In fact, the U.S. now arguably has a more unequal distribution of wealth than traditional banana republics like Nicaragua, Venezuela and Guyana.
Unemployment benefits are pumped directly back into the economy, as those on unemployment use the money for basic necessities like housing, lights, gas for the car to look for work and food to feed their family. The loss of unemployment benefits will have a disastrous effect on Michigan, but Republicans don’t seem to care. At no time in our history have we refused to extend unemployment benefits when the unemployment rate was this high.
Republicans have demonstrated time after time that they are simply not interested in governing, and their only concern seems to be getting and keeping power; no matter who is hurt. The only people they care about protecting seem to be the richest 2 percent, and they don’t need the help.
Republicans are even refusing to act on something as important as ensuring loose nuclear weapons do not fall into the hands of a Middle East terrorist, and they continue to drag their feet on the START treaty on strategic offensive arms.
This is a crappy deal, but how do you negotiate with someone who cares so little about the middle class, the economy and will stop at nothing to make you look bad and defeat you?
The Senate and House Democrats have not signed off on the deal, and frankly, I’m not sure they should. No doubt it’s a crappy deal. But the fact is Republicans don’t care if unemployment benefits are cut off during the Christmas season, and they don’t care if taxes are raised on the middle class.
I can live with this deal. I don’t like it, but I understand how little Republicans care.
5 comments:
The Commie Guru sez..."The debunked argument they use is that if we don’t extend the tax cut to the rich, they, the alleged job creators...", but he doesn't explain how those with NO MONEY hire people and create jobs. Also commie guru conveniently is silent on the fact that these "tax cuts" have been in existance for about a decade now, so this will be an OBAMA TAX INCREASE!
Maybe the down-trodden can petition The Regime to turn on the printing presses and create another trillion in new dollar bills?
The Democrat solution, "Print Our Way Out Of Recession" (create toilet paper money)
A part of the Democrat philosophy "Ownership of money": Since the government issues the currency that we use to represent our hard work, they feel a special ownership of that same currency. The Neo-com Democrats feel that the taxing power to remove currency from you is a government control function of the population to steer us in political directions as they desire.
The words "Tax Cut" are vile words not to uttered within hearing range of a Democrat. They prefer carefully crafted and directed "Tax Incentives" for socialist engineering of society in the US.
How to spot a Neo-com [progressive] Democrat: When presented with a question, they answer with a question beginning "Well, would you rather..." if they are not already launched into a pre=programmed talking point.
This is way wrong. The only tax cut is for one year on the payroll tax. That was Obama's plan. And quite frankly, one that I like.
The Bush tax cuts being extended is not a tax cut. It's keeping the tax rate as it's been for the past 8 years. It's avoiding the largest tax increase in history.
Claiming the Republicans don't care about unemployment benefits, or that they would hit at the worst time of year, or that they are willing to aid terrorists by not dealing with treaties or loose bombs is childish and silly. The fact is that they prioritized.
When is the best time of year for unemployment benefits to run out? January? That's when they would have. Or is Spring better? How about Summer?
The Republicans did what they were elected to do. They just did it before the new Congress takes effect.
You should be ecstatic. Obama probably just got himself re-elected next time. His only problem in the re-election now is if his own people (Socialist Democrats) will show up to vote for him in the next election.
The economy will improve. We're going to find out how investors like this plan this morning. We'll see this stimulus plan work. When this works and the government receives more revenue, you can expect that the payroll tax cut will be extended next year as well and then, in 2012, this extension of the tax cuts will again play a part. Obama may want to stop it, but the proof of it's success will be the improved economy. We should all just hope that the next Congress cuts spending and doesn't spend the added revenue that comes in due to this extension.
Obama forced to negotiate with the devil??? REALLY? Does he call and say "Dad we really have to talk!" :)
http://www.rogueriver.tzo.com/media/obama/obama_666.jpg
That is correct the debunked argument. Perhaps you missed the part where it says “American businesses earned profits at an annual rate of $1.659 trillion in the third quarter. That is the highest figure recorded since the government began keeping track over 60 years ago?” No, you’re silent.
They are making huge, record profits, yet they are not hiring many people. Not only that, but the largest job creators in this country are small businesses, and they are almost all middle class, and that’s what we are talking about, not the poor. Although, soon we will all be in that category if anymore wealth is given to the top 2 percent.
Do you have anything else besides that ridiculous, false rant about Democrats?
I didn’t think so.
No, the Bush tax cut was sold as a way of returning budget surpluses to the people. They not only returned it, but helped run up a huge deficit. They were set to expire for a reason.
Claiming the Republicans don't care about unemployment benefits is true.
I’m not worried about Obama being re-elected; at least not with this current crop of Republican wannabes. Again, anonymous coward, there is no such thing as a Socialist Democrat in the United States and that is just a false, Republican smear.
The economy is improving, and Obama is fighting every Republican attempt to stop the recovery. The stimulus plan worked.
Once again, anonymous wimp, I am still waiting for you to back up your outrageous lie that we were “nearly shoulder to shoulder once.”
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