Sunday, September 18, 2011

Obama: Taxing ONLY the Millionaires and Billionaires

What is so un-American or unjust about taxing a billionaire at the SAME EXACT TAX RATE as someone earning only $35,000 a year? Billionaires have already had these tax breaks for 10 years, and we lost 10 million jobs (and even today, we still have 14 million unemployed and 9 million currently collecting unemployment benefits).

How could any sane person possibly believe a Republican when they say that with even MORE tax breaks (like completely eliminating capital gains taxes on the wealthy*) we will create more jobs, especially when we're still seeing people getting laid off and have huge budget shortfalls? Why would we want "more of the same"?

* Only 15% tax on stocks and dividends held by CEOs, bankers, and hedge fund managers after one year, but only 5% if held 5 years or longer.)

Before 1973 median incomes rose right along with economic growth, but starting that year income growth suddenly slowed dramatically. In 2000, household incomes went from 1 percent growth to zero growth, and they've been stuck there ever since. (Meanwhile, CEO pay has gone up 400%...about the same time we saw massive outsourcing after the Vietnam War.)

How many jobs have already been outsourced by American corporations to China, India, Vietnam, Korea, Canada, and Mexico? With the pending trade agreement, how many more will be sent to Colombia, Korea and Panama? And what about the "multiplier affect"? How many more jobs were created in foreign countries by all those jobs outsourced to foreign countries? If all those jobs had never left our shores, what might be the unemployment rate in the U.S. be today? If all those jobs had never left our shores, would we still have budget deficits?

The Republican leadership is just a bunch of crooked and greedy millionaires representing other crooked and greedy millionaires - people who can afford to spend a $100,000 on one lousy suit - a bunch of damn plutocrats!

The GOP wants us to believe that if we eliminated all taxes entirely for all the millionaires and billionaires, that they would immediately create millions of more jobs (because they'll have "certainty"), fix our infrastructure, and save Social Security and Medicare. Get real!

The Republicans keeping saying corporations have to have lower taxes to compete with the rest of the world, but if they didn't outsource all our jobs, there would be no "rest of the world" to compete with, everybody would have had to buy everything from us. It's mostly the American multi-national corporations who compete amongst themselves, and sometimes their own subsidiaries. Germany still has a manufacturing base and pays their employees a "living wage". Why couldn't we? And American corporations don't REALLY pay higher taxes (the "effective" tax rate); and capital gains taxes are higher in China too.

The Republicans keep spouting "class warfare", when it is THEY that's been waging a class war against the middle-class, working-class, and poor. They must think the average American is a complete and total brain-dead moron! Besides being a group of lying hypocritical guardians of the corporate elite, the Republicans are insulting as hell too!

And you wonder why I hate Republicans!

On Obama's proposed tax hikes for billionaires: The Republicans in Congress won't let this happen, and the Democrats and Obama know this. If the Democrats were REALLY sincere, they would have passed this when they had the House last year. The millionaires and billionaires can pay their lap dogs in Congress to NOT raise their taxes, like they've been doing, and using the same old lame excuses for not doing so, like creating more jobs.

1 comment:

  1. And when there finally IS a mass uprising in America, the uber-rich and the Republicans will blame us, the same way other dictators have blamed their people.