Why do the Republicans hate working Americans so much? And, why has President Obama consistently skipped over to their side by failing to stand up for the working classes as Democrats have historically done? And, why have the Congressional Democrats given the President a pass, except for a few?
David Michael Green calls Republicans—Regressives, and this agenda has persisted for over 30 years; therefore, this explains why those top 80% of income earners are suffering today.
Fareed Zakaria explains this very well. He said the biggest 50 factories are in China. The world’s tallest building towers in Dubai. The U.S. is losing patent applications, along with scholarly works published in scientific journals to China.
China is moving up the value chain, and working to become a world leader of medical research, among other successes. They are moving to become a worldwide game changer in a post-American world. Along with China, the wealth of other nations is expanding creating these growing nations as world economic centers.
Now, we are witnessing the bullying Regressives in Congress wanting significant cuts in the budget if the debt ceiling is to be raised. They have refused to consider any tax increases on the wealthy and their corporations, who rarely pay their tax rate anyway.
Most multi-national corporations pay less than you do. Many pay below 9%. Some pay zero percent in spite of huge profits.
The Regressives continue to say via their propagandistic message that a rise in taxes is a job killing action. They fail to say that when the nation taxed the wealthy at a 90% rate, our real economy was at its best and when it was dropped to its lowest level, under LilboyBush, the real economy collapsed to its worst!!
Since the tax rates have been the lowest we have experienced an evermore increase in the numbers of unemployed, underemployed and those no longer looking. For every single available job in the country, there are five people applying for that job.
Since consumer spending makes up 70% of our GDP, the demand-side has shrunk. The wealthy have more expendable income than anyone else, yet their spending has failed to pull the country out of the recession. So much for tax cuts as job killers. What is the truth is that tax cuts are actually job-killers, and not the other way around.
The public sector makes up around 33% of GDP and the Regressives want cuts there, or to transform those jobs into private sector jobs as dictated by the corporate elite, such as the Koch brothers, who want to steal more government dollars for themselves.
This is what an Oligarchy is. Vladimir Putin did just what the Regressives want to do under his Communist Party reforms. Are the Regressives actually closet modern Communists?
The Regressives are Hooverites wanting to vacuum up all the public sector dollars into their private sector bank accounts.
The Regressives fail to say that the current debt-to-GDP is 90%, yet the Brits have theirs at 110%, and Japan’s debt-to-GDP is at 220% and continue to have a strong economy and can still borrow on the world market successfully in spite of this very high debt level.
The Regressives have failed to tell the American people that if the Bush tax cuts were eliminated the Treasury would find $3.9T more dollars over the next ten years in their account. This change would drop our debt to the bottom of the debtor-industrialized nations. And, if we don’t raise the debt ceiling, the nation’s economy would be placed at an extremely high risk level, as well as negatively affecting the rest of the world with a decline in demand, and higher borrowing rates—a possible doubling of rates. The increase would cost the U.S. $500B more and increase the debt-to-GDP by another 15%.
The Regressives must hate America, as well!
The U.S. has never defaulted on its debts. Congress has already mandated to cover its debts via the Constitution (14th Amendment).
If Simpson-Bowles would be enacted, we would see a drop of our debt-to-GDP to 2%, then our debt level would drop to the second lowest debt-to-GDP in the world!!!!!!! [in spite of it being a Regressive's dream-come-true.]
Fareed Zakarea continued to report that the No-Tax moronic bullies who regurgitate nonsense have failed to say that closing the tax loophole gap and cutting of the deficit won’t do the fix. The Regressives say that closing the tax loopholes is a tax increase when actually loopholes are only “gift scams” given to the wealthy elite to avoid paying taxes.
The Regressives have failed to explain to those dumb Americans who proclaim they want government spending reduced receive public benefits in the form of Social Security, Medicare, Medicaid, GI benefits, supplemental health benefits, mortgage tax deductions, student loans or grants, energy assistance grants, and other health benefits, as well as other government subsides.
They have failed to say that 40% of the public sector unemployed are teachers, and that 500,000 of those who make up the public sector unemployed are not only teachers, but are fire and police workers, as well as librarians. Therefore, if cutting those jobs over the last three years has been good for the economy, then prove it!
James K. Galbraith wrote, “Social Security is NOT a government purchasing program. It therefore takes nothing directly from the private sector. What it does, is provide insurance: it protects workers from poverty in old age, whether or not their families would otherwise be willing and able to support them. Along with Medicare and Medicaid, Social Security is a powerful protector of the entire working population—young or old.
It distributes purchasing power, in loose relation to past earnings, in a way that meets the basic needs of a larger number of Americans who would otherwise, in many millions of cases, be destitute or medically bankrupt.
The notion that cutting Social Security would help keep interest rates down is absurd because interest rates are set in a way that has no relationship at all to the scale of Social Security, Medicare, or Medicaid.” (Galbraith)
The Regressives who want to raise the recipient age of Social Security have failed to say that by lowering the age of “access to Medicare would work quickly to rebalance the labor force, reduce unemployment and futile job searching among older workers while increasing job openings for the young. It is the application of common sense. And, unlike all the pressures to enact long-term cuts in these programs, it would help solve one of today’s important problems right away.” (Galbraith)
Galbraith continued to make the point that the President, who claims to be a member of the Democratic Party, has failed the following points:
"First, there is the claim that we face a fiscal crisis, which is a big untruth.
Second, a concession in principle that we should deal with that crisis by enacting massive cuts in public services on one hand, and in vital social insurance programs on the other. This is an arbitrary cruelty.
Third, a refusal to stand on the strong ground of the Constitution, against those whose open and declared purpose is to tear that document and the public credit to shreds." (James K. Galbraith, from Alternet.org, "Deficit Predators: Everything You Need To Know About The Twisted, Dangerous Debt Ceiling Fight, 7-11-11.)
Paul Krugman wrote: "...voodoo economics has taken over the G.O.P.
Supply-side voodoo — which claims that tax cuts pay for themselves and/or that any rise in taxes would lead to economic collapse — has been a powerful force within the G.O.P. ever since Ronald Reagan embraced the concept of the Laffer curve. But the voodoo used to be contained. Reagan himself enacted significant tax increases, offsetting to a considerable extent his initial cuts.
Last year Mitch McConnell, the Senate minority leader, asserted that the Bush tax cuts actually increased revenue — a claim completely at odds with the evidence — and also declared that this was “the view of virtually every Republican on that subject.”" ("Getting To Crazy", 7-14-11, NYT)
This is what we are dealing with today---sadly laughable, political manipulation by moronic Congressional lifers, such as Mitch-the Scarecrow (no brain)-McConnell wanting the golden parachute paid for by the taxpayers.
This is from Phil Davis's Istablog:
Intro by Ilene at Phil's Stock World
If we did these things, we wouldn't have to raise taxes cut core services to the American people.
If there's any shortfall, all we have to do is claw back the ill-gotten gains from the fraudsters working for the too big to fails whose unlawful actions got us into this mess in the first place. See this, this, this, this and this.