Monday, 20 February 2012

How can the GOP claim the latest tax break as a win?

Eric Cantor says "No one is satisfied with the direction of the economy right now."

Lets look at this.  There is only 2 directions the economy can go in.  Up or down.  Currently the economy is getting better.  Unemployment rates are dropping.  So ... what?  Eric Cantor is another republican that thinks America should have higher unemployment rates?

He does go on to immediately say "They want to see more growth. People want to see more job oppertunities."  Well lets look at this.  It was under the Republicans that we got the negative growth.  It was under the republicans that we had an unemployment rate soring into the double digits.  There was a lot to unfuck and Eric here is bagging Obama because he isn't fixing the cluster fuck of an economy and financial situation that his party handed to him.  Get real, this is political spin taken to an extreme sport level.

At every turn you'll hear Obama say it won't be quick and it won't be easy.  But we are getting there.  This is happening even with the republicans trying to block everything Obama is doing.

He claims Obama doesn't want to cut spending yet Obama has committed to over 2 trillion dollars in spending cuts.  What they are really upset about is the fact that Obama wants the 1% to pay their fair share instead of paying just 15% in federal tax, using loop holes to avoid payroll taxes and escapeing many of the other taxes like FICA and other taxes.

If you are not satisfied with the economy then take a real look at the compromises Obama has made.  The flack he has taken from his own party.  Then look how at every turn not only do the republicans not want the rich and corporations to pay their fair share of taxes but they want to give even more tax breaks for people like Mitt Romney who has to pay $6,000 a day in taxes and live on just over 52,000 a day.  Oh poor poor Mitt.

Thankfully because of some grass roots efforts the payroll tax cuts for the middle class have been extended.  The GOP is trying to claim this as a win for them but remember it is them that not only didn't want to pass it but try to raise taxes for middle America, it passed by 46 democrats and 14 republicans against 5 democrats and 31 republicans who apposed it.  So they didn't want it passed.  To boot Norquist is still trying to spin that raising taxes on the middle class doesn't actually count as a tax increase.  Its pretty simple the GOP's line is that middle class should pay more in taxes.  The rich should pay less.   But lets look at the difference in tax breaks.

What happens when a middle income family gets $40 more a pay check.  Where does that money go?  It almost all goes straight back into the economy and most of that is in the local economy.  It goes to having an occasional meal at a family resteraunt.  It goes to local businesses for services that the family may not have been able to get without that tax break.  Now look at the rich.  Is 15% already to much for them to pay?  What happens when they get a tax break.  Well if you are Mitt Romney that money normally goes into your investment in your corporation that already pays SFA in taxes and often tears up companies to make quick profits.

Most jobs that are created aren't created by businesses like Bain Capital.  They are jobs created by and for middle america.  Tax cut for middle America helps middle America which help increase tax revenue as a whole.  Less unemployed = less people on unemployement benifits = more people being paid = more taxes being collected.  Tax cuts for Mitt Romney = more money for corporations to accumulate more wealth for themselves that doesn't trickle down very much.

You do the maths.  It is pretty easy.

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