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Monday, November 21, 2011 | 11:51pm
NO DEFICIT DEAL! GOP Still Believes Tax Cuts For The Rich Creates Jobs
No…hiring unemployed folks creates jobs.
So its safe to say no one was shocked by the “news” that this Super Committee didn’t reach an agreement on a plan to lower the Nation’s debt. Just in case you actually began to believe the President was the only one in Washington dicking around, Congress reminds you they’re up to no good either. The congressional committee was set up in August, the result of a last-minute deal between the two sides in Congress to raise the debt ceiling and avert a default on US debt payments. The panel of six Republicans and six Democrats was tasked with reducing the deficit by $1.2 Trillion was an epic fail. But after all, when was the last time Democrats and Republicans actually worked together on some ish? Who is surprised? As a result, the automatic cuts outlined in the bill that created the committee will default into effect starting in 2013.
President Obama wisely separated himself from this circus allowing Congress to show off for their level of incompetence once again on the Inernational stage. And while I don’t hold the Democrats blameless I’ve gotta go in on the Republicans. Do they really think no one is paying attention? While proposing cuts to Social Security, Medicare, and Medicare were their key sticking points it was the fact they wouldn’t budge on their desire to cut taxes for richest 1% of Americans.
Ok….lol. I’m baffled as to why middleclass Republicans everywhere aren’t just embarrassed by their party’s stance on pampering the rich. As a “smart” conservative pundit and his/her argument is to quickly distract your attention with the slight of hand, pull a rabbit out of a hat and point to the poor jobs market. Hmmm. One has nothing to do with the other really. The “argument” here is by kissing rich people’s asses that they might stop pouting over a slow economy and stop holding new jobs hostage. But even if we do cut taxes for Warren Buffet and the Old Boy Network does that necessarily mean we’ll magically a shrinking unemployment rate? Of course not. This same argument was made when it was decided to bail out the banks. By infusing cash on their balance sheets they’ll start lending. How’s that working out for ya? Look its simple. When you give rich people money (or in this case cuts) they didn’t need in the first place they either save that money or spend it…on THEMSELVES. Stop pulling the wool over our eyes. If you’re going to offer tax cuts it MUST be DIRECTLY tied to job creation. Want a tax cut? Give me 100 gigs. Rich, poor, doesn’t matter.
At the end of the day, its funny cause I’m kind of glad no deal was made. Given the proposals on the table one might argue it would have created higher unemployment, a weakening social services all while worsening the very deficit it sought to cut. See the Democrats were too busy trying to play nice in fear that their constituents would see them as cock blocking a potential deal. So for once, maybe Congress actually did something right by not doing their job.
The reason members of the Super Committee didn’t reach an agreement is that Republican members insisted on damaging cuts to Social Security, Medicare, and Medicare — and they wouldn’t budge from their refusal to lower tax rates for the richest 1% of Americans.
If the so-called “Super Committee” had made a bi-partisan deal based on the announced negotiating positions of the Republicans and Democrats on that panel, the result would have been higher unemployment, serious damage to the social safety net — and worsening deficits.
Super Committee Democrats, concerned about being seen as blocking a deal, clearly offered Social Security and Medicare benefit cuts in return for a pitifully small increase in taxes and large and damaging spending cuts in the middle of a struggling economy.
The deal on the table — whose failure is much lamented by beltway pundits — would have seriously harmed the economy, without significantly reducing deficits. In fact, it might have made it worse.
Luckily, the progressive base — and the Democratic Caucus in the House and Senate — convinced those negotiators that a bad deal is worse than no deal.
FILED IN Editorials, News
These so called “Super Committee’s” are a joke and a waste of time. The term “tax cuts for the rich” also always leaves me laughing/wondering. You can call them what you want but I am by no means “rich”. The taxes under Bush Sr. and then Clinton were so oppressive my wife and I could hardly breathe. We were being punished for daring to try to live “The American Dream” by continuing to seek more education and training and move up the ladder at work. The Marriage penalty was insane (they basically combined both incomes and pretended the two were for one person). Getting out from under that coupled with the rest of the cuts finally allowed us to start getting out of debt and reaping the rewards of our hard work. Call the tax cuts what you want but we are middle class and they helped us immensely.
It’s all a shells game, and ALL the politicians in Washington are in on it….the new leader for the Republican candidacy, Newt F*cking Gingrich, just disclosed that he received something like 1.5 mil in “consulting fees” from Freddie Mac over the course of three years or so….yeah, the same Freddie Mac that needed BILLIONS of our tax dollars in order to get bailed out…yet in 2006, they spent over 11 million lobbying the politicians, in order to kill a bill that would have streamlined their operations (translatation: some of the execs were going to lose their jobs and or take paycuts)…and it worked because people like F*ucking Gingrich used their political connections to kill the measure before it made the senate floor….It just doesn’t matter, what we try to do, short of going back to the settlement in Jamestown, VA in 1619, so we can start over.
Well, I’m not sure how hard this is. We have infrastructure that needs building. We also have a lot of workers in the construction sector that need jobs. I see a ton of potential there.But why would the Banks loan money if they are getting money from the fed not to lend?
Agreed trickle down doesn’t work and hasn’t worked. And how can letting the Bush Era tax cuts expire make the Rich not Rich? While most of us are paying 35% and up for taxes the few rich are supposed to pay around 15%. I say supposed to pay because hardly any of them pay that price because of another shell game being played with there money.
Either we invest in our future and Recreate better industries even out the tax structure or get ready to be the United States of China.
The Republicans should be called the Republic of Norquist..LOL
This is B.S. same old finger pointing crap. Neither side was gonna budge America knew that from jump this “super” committee” Just got extra pay for doing nothing. As far as blaming repubs, remember the House Senate and the President where all under Dem control for two years why didnt they pass this “all important bill” when they ran EVERYTHING. If they were worried,REALLY WORRIED the senate would vote on the 17 parts of the bill that passed individually. Neither side is gonna do anything until their jobs are on the line…..as ususal