Site Meter

Taxing Trivia

November 26, 2012
Share

Did you know the US Deficit is shrinking at the fastest pace since World War II?

“…Believe it or not, the federal deficit has fallen faster over the past three years than it has in any such stretch since demobilization from World War II. In fact, outside of that post-WWII era, the only time the deficit has fallen faster was when the economy relapsed in 1937, turning the Great Depression into a decade-long affair. If U.S. history offers any guide, we are already testing the speed limits of a fiscal consolidation that doesn’t risk backfiring. That’s why the best way to address the fiscal cliff likely is to postpone it…”

If this is, indeed the case, then why do we need the draconian cuts of the Fix the Debt organization, that is being run by a bunch of big-time CEOs, including the head of Bain Capital?  Why do they want low taxes for themselves and high unemployment?

“...Jobs, not austerity, is the path to a healthier economy. Just ask Europe. Lundgren and his band of reverse Robin Hoods, part of a campaign called Fix the Debt founded by “catfood commissioners” Erskine Bowles and Alan Simpson, have ganged up to influence post-election policy by spreading the myth that our main problem is long-term debt and deficits, rather than high unemployment. They actually like high unemployment, because it keeps their workers in check. They’re out holding town halls, trying to buy or rent members of Congress, and otherwise throwing their weight around….”

Greg Gutfield called Ben Stein a communist on FOX News.

What if the economy were not all that bad?  What if the US were recovering faster than anyone else, just about?

“… The U.S. recovery has been one of the best in the world.Since the financial crisis began on Wall Street and spread across the globe, America’s recovery has been frustrating but it is still the “sole bright spot of the world.” Meanwhile, Europe has fallen into recession after dramatic spending cuts made worse by the uncertainty of their weak monetary union. Individual states united by a common currency making their own decisions, along with huge spending cuts, sounds exactly like the Republican agenda. Aren’t you glad we didn’t go along with that?…”

What if the shrieking heads of the far right were wrong about taxes?  Michael Lind, who started out as a conservative, but discovered, as has The Pink Flamingo, that the far right is not the most trusted worthy group when it comes to factual accuracy, founded the New America Foundation.

Contrary to the lies Mitt told us, income taxes are a fairly recent thing, where the “average” American never paid taxes.

National Memo

“...The United States reached a milestone in 2012:  For the first time since liberal New Deal Democrats justly extended income tax liability from the rich to the middle and working classes, half the population pays no federal income taxes,thanks to the misguided efforts of conservatives to increase the number of government-dependent nonpayers….”

I don’t think the Kochs want people to know this.

Robert B. Reich wrote:

“…Higher taxes on the rich won’t slow the economy because the rich will keep spending anyway. After all, being rich means spending whatever you want to spend. By the same token, higher taxes won’t reduce their incentive to save and invest because they’re already doing as much saving and investing as they want. Remember: they’re taking home a near record share of the nation’s total income and have a record share of total wealth….”

The real problem here is there are two different philosophies at play.  The right thinks in nothing but the terms of low taxes for the ultra wealthy, draconian taxes for everyone else, along with devastating budget cuts.  A year ago, The Pink Flamingo would have agreed with much of this.  Then I started reading about the problems that have been created in Europe.  They are following the Paul Ryan – Ayn Rand austerity theory that absolutely destroyed the world’s economy in the 1930s.

The lesson of history shows us that the so-called conservative view, of punishing anyone who isn’t worth millions, does nothing but make things worse.

We live in a world where the big business mentality dominates the way we do things.  Until recently, The Pink Flamingo agreed with this sort of thinking, then I started looking around, turned off FOX, and pulled the plug on far right talking radio.  I saw a different world, where the average American is treated like pure sh*t by big business.  We’re to sit back, and sing the praises of a world where Americans come out looking like a bunch of fools while the Randians walk all over us.

Think Progress

The conservative experiment in taxes and fiscal spending is a gross failure. Before you get too upset, the ultra liberal version is also a huge failure.  We go back to the Eisenhower years to see what truly worked, quite well.  There were high taxes, of which I do not approve.  BUT, the infrastructure spending is what pulled this nation out of the Great Depression and set up the modern world.

 

Share

2 Comments

  • unknown jane says:

    Ben Stein is spot on — now, there may still be a way to incrementally work on the deficit with staggered spending cuts and tax raises, and as far as regulations we probably need to put some teeth in the regulations already in place (rather than more regs that aren’t enforced any better then the ones already on the book), and this might, might be a way to soften the blow — but at some point the sensible, the conservative, action is to go for that moderate approach rather than the all or nothing stance that both fringes want to enact (which imhao will lead to ruin — either way, we end up with the same outcome).

    Unfortunately, only the fringes are getting any air time — and if you call them out on their insanity…well, you get called a communist, anti-American, or worse.

  • jose maria says:

    One thing I’ve learned is that our money doesn’t trickle down, it trickles over – to China.


WordPress SEO fine-tune by Meta SEO Pack from Poradnik Webmastera