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July 26, 2011

The Right wing “balance”

by beaufou

Republicans are refusing to raise taxes, or more clearly close the loopholes that help corporations and the wealthiest Americans pay little or no taxes.
The cut, cap and balance project is in fact a program to cut into Medicare and Social Security while protecting the privileges of the few at the top, a typical effort by the far right to “reign down” government spending while still allowing massive tax shortcuts; welcome to the world of the Tea Party and their partially retarded but mostly ignorant followers.
Boehner last night said we could not afford to tax “job creators” more without seriously hurting the recovery. The job creators for the right are the corporations and billionaires who have created no jobs in the last ten years, this from Fortune magazine meanwhile contradicts absolutely the Republican line:
“The Fortune 500 generated nearly $10.8 trillion in total revenues last year, up 10.5%. Total profits soared 81%. But guess who didn’t benefit much from this giant wave of cash? Millions of U.S. workers stuck mired in a stagnant job market. … We’ve rarely seen such a stark gulf between the fortunes of the 500 and those of ordinary Americans.”

The only major beneficiaries of the recovery have been corporate profits and the stock market and its shareholders, the richest make 25% of the nation’s income and inequalities keep growing. The US has the worst income inequality of the 24 most industrialized nations.

So if you hear about cut, cap and balance, know that this is an effort by the far right to cut into the benefits of those who need it the most while still giving the wealthiest tax breaks.
Eisenhower must be spinning in his grave.

Read more from economy, politics

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