Krugman Is Right About the Fiscal Phonies!


The Pink Flamingo has reached the point in life where I give far more credibility to the financial pondering of Paul Krugman than I do any libertarian or conservative out there, opining.  In this one, Krugman calls it like he sees it, and I’m seeing it the same way.  They are phonies!

“...Until now the attack of the fiscal phonies has been mainly a national rather than a state issue, with Paul Ryan, the chairman of the House Budget Committee, as the prime example. As regular readers of this column know, Mr. Ryan has somehow acquired a reputation as a stern fiscal hawk despite offering budget proposals that, far from being focused on deficit reduction, are mainly about cutting taxes for the rich while slashing aid to the poor and unlucky. In fact, once you strip out Mr. Ryan’s “magic asterisks” — claims that he will somehow increase revenues and cut spending in ways that he refuses to specify — what you’re left with are plans that would increase, not reduce, federal debt…”


Yep, that works for me!

Krugman is so right.  It’s one thing to try and cut the waste in spending.  It is a job that needs to be done.  Tom Coburn has the right idea on all of this, but he’s getting little air time and no play.  I guess, his idea of doing some real cutting just isn’t popular.

Krugman ends with something we all know is true.


They don’t give a damn about trying to do something constructive to stop wasteful spending.  They can’t.  If they want to do something about wasteful spending, then the current version of the GOP must grow up and stop prostituting themselves to their billionaire donors who don’t want to pay “their fair share”.

Oh, wait, we can’t use that term.  It’s socialist.  It isn’t about the rich paying more than everyone else, it is the fact that proportionally, everyone else (We the Little People) are paying proportionally far more than the ultra wealthy.  We’re being soaked while the ultra wealthy break this nation.

Let’s see them pay their fair share.

A “fair share” would be Apple paying the same 28% the struggling small business person is paying.  Since they paid about 4.5% last year, let’s do to them what was done to a contractor I know.  Attach everything Apple owns until they cough up the other 23% of their fair share.

What about the small business owner who finally, after nearly 5 years, made $8000 in profit.  In order to pay last year’s taxes to the IRS, this person as forced to delve into their retirement account.  So…. this year, because of  that $8000 profit, the person is paying $23,000 in taxes.  Maybe Mitt Romney should be required to pay 300% on his earnings instead of 15%.  Perhaps GE’s accounts should be attached until they pay their fair share of 28% instead of zip, nada, zilch.

From Democrats for Sale:

“…That is one of the biggest problems we have today is that way too many people elected to Congress think ‘compromise’ is a dirty word when in fact, it has been used for years to get the job done for all the American people just not a few.  There is no common sense left in most of Congress.  You have to work across the aisle to get things done but this group of ‘my way or no way’ on both sides are are forgetting that they work for the American people not some Super PAC or big donors or a group that vows to defeat them if they don’t vote like they want (Chamber of Commerce comes to mind).  We need more Senators like Tom Coburn, Jim Inhofe, John McCain, Joe Liberman, and others who put the Country first.

I am so sick and tired of hearing about tax cuts when the very people opening their mouths are the ones who are not for limited government and in fact are continuing to grow government.  The cuts they tout are mostly smoke and mirrors until 2017 when then take place.  Alan Simpson has them pegged and I am extremely happy to join him as a RINO (Republican in Name Only) because this Republican Party is one I don’t recognize or I wouldn’t have been a member all these years.  There is no common sense only pandering to special interest groups and donors.

When is someone going to tell Norquist to take it and shove it?  Tax cuts are not the end all be all especially when they favor people like Romney and other fat cats who pay less than 15% due to a special part of the Bush Tax Cuts.  Why shouldn’t the wealthy pay their fair share — 15% is not their fair share.  It is not like they are spending their money to hire people as small business’ are doing most of the hiring.  They sit there with their off shore accounts where they pay zero tax to the United States and that is okay to some people but not this one.  What we are seeing out of wealthy donors and Super PACS should make every one hang their head in shame to support any candidate where the wealthy are trying to buy the Presidency with their attack ads over and over again.  They bring nothing positive to the table. ..”

Conservatives like to say that being socialist and forcing the big guys to pay “their fair share” (28% like the small business owners I know) is just plain wrong.  Paul Krugman is right.  They are a bunch of phonies. They say that requiring Corporate America and Billion Dollar America won’t do much in the way of taming the deficits.

The late, great Everett Drikson once said that “A million here, a million there, pretty soon, you’re talking real money.”

A billion here and a billion there and it starts adding up, to a heck of a lot.  Sure, it’s not going to put much of a dent into the mess we are in, but, if REPUBLICANS in Congress would try doing something real and honest for a change, and listen to Tom Coburn we could find our way out of this mess.  They can’t do that, though.  Coburn is not one of the “in” Romney crowd.  He’s not pandering to the billionaires.

As for Grover Norquest, someone needs to shove a rocket up his you know what and tell him to shut the heck up for a change.  The GOP needs to repair the tax code and make it FAIR for everyone. Sure, that would mean that their sacred fat cats would be required to actually pay their fair share.  We can’t have that.  The GOP  no longer gives a damn about We the Little People.  We don’t have the millions it takes to buy them, to pay tribute into their Super PACs.

Fair is fair.

The Pink Flamingo thinks every individual making over $25,000 a year and every couple making over $35,000 should pay 15% in income taxes – with no exceptions and no deductions.  That is fair.  Unfortunately, that will be a tax hike for the billionaire corporations and individuals who are getting away with almost nothing.   Grover Norquist thinks that would be a tax hike.  It will be for those we should just describe as tax-dodging freeloading billionaires

Once the GOP was all about repairing the tax codes.

It will never happen.  The GOP no longer believes in representing We the Little People.  After all, we can’t chuck in a million here and a million there for their Super PACs.  It’s a shame, really.  This was once a great nation, were all a person needed to get ahead was ambition, a little luck, and a lot of hard work.  Today, that’s a recipe for wallowing in the gutter, being trampled by the ultra wealthy.  They defend it as capitalism.

I call it a plutocracy.

It has nothing to do with honest capitalism.

There’s nothing democratic or republican about it.

Ayn Rand would feel right at home in this new America, being birthed in her atheistic and perverted image.   Paul Krugman is right.  The far right, people like Mitt Romney, Chris Christie, Paul Ryan etc are nothing but a bunch of phonies.


2 thoughts on “Krugman Is Right About the Fiscal Phonies!

  1. Most of the super rich do not pay regular income taxes. The money comes from capital gains, now at 15%. The income tax tables are entirely different. Many of the rich do not pay income taxes because they don’t work for a salary and they have all kinds of loopholes. Social Security income is already taxable if a person makes over $25,000.00 a year. There has not been an increase in standard deductions in two years now. For the last two years I have paid higher income taxes. A person still has to pay taxes on every cent of interest earned on a savings account and today that is not very much. Sometimes I think is it better not to even have an interest paying account because you’ll pay more taxes than the profits you will earn. It usually bounces you up into another tax bracket. Right now, a person who has a taxable income of $25,000.00 is paying about $3329.00 in taxes a year.

  2. Capital gains are one thing, the fact that Apple gets off paying about 5% on actual income is another. Alimony is another thing that is taxed as a “gift”. I just think everyone should pay the same low rate of no more than 15%, with very few deductions. It would be much fairer.

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