The lame duck battle for U.S. tax cuts.

Picking up the internet news about the expiring, so-called “Bush tax cuts”, I am surprised that the Republican Party (Grand Old Party) is digging their its heels in so deep about it. It really shows that the contemporary Republicans are bought-and-paid-for much more than they ever have been in the last 30 years.

This is the bottom line:

If the current tax regime is continued for people earned under a quarter-million dollars a year ($200,000 for singles), the new tax cut (2011 onward) would cost $3 trillion over 10 years.

Just the part for the handful of well-off people making OVER $250,000 a year—remember, this isn’t HAVE $250,000 as their life savings, this is MAKE $250,000—would cost $700 billion. That’s the $3 trillion plus another $700 billion.

The Republicans talk tough about getting the deficit under control, but it’s clear they have no desire to do that. They are just paid agents of very wealthy people, and their role in Washington is to make sure their customers get off with a relatively small bill.

Don’t people realize that if they people who can pay are given a pass, the bill ends up with the people for whom it’s much more difficult to pay? How can the Republican Party justify being for the middle class, when it’s so clear that the Republicans fight in Washington to do things against them?

Americans these days are suckers, and played for fools time and again. I see this in Japan. I see this also with expats from other countries, with their snide opinions about Americans. It’s really disheartening.

The thing that is the worst, though, is when it’s your own doing it to you. And that is today’s GOP.

One thought on “The lame duck battle for U.S. tax cuts.

  1. All too true, Hoofin.

    What part of ending the Bush tax cuts for millionaires who have plenty of money to pay lawyers, lobbyists, and tax advisers to get out of paying their fair share do these mental midgets fail to understand?

    They must really think they can make up all that unpaid tax revenue from the large pool of formerly employed middle class, minimum wage workers, teabaggers, et al.

    As we learned during the Reagan administration, fecal matter is all that “trickles down”.

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