Sunday, July 17, 2011

Doubling down on crazy

Republicans are getting closer to either admitting they work exclusively for a small handful of rich people or are just the party of those people who shout at clouds. Obama has put more budget cuts on the table than the majority of Republican voters are comfortable with and if they realized what it will really cost them they will be far less comfortable. In return Obama asked for the closing of a few loopholes the super rich enjoy, things no small or even medium sized business gets to take as deduction on taxes.

The Republican response is to trot out the same old talking points and even Republicans voters are starting to catch on. This is why Obama was able to raise record contributions and half were from new donors.

Trickle down from the rich, growth from austerity, cutting taxes raises revenue. Anybody with an IQ above room temperature should see these as obvious lies. Even if they sound appealing in the hypothetical (something for nothing by magic always is) and you picture yourself in the same boat with the millionaires who tell you these things so why would they lie, well the results of the last thirty years should be proof enough.

Thirty years ago there were no billionaires and now you have Wall Street pirates with multi-billion annual incomes and they pay 15% tax. The solution to the lack of jobs that all the Republican candidates are putting forth is to cut their taxes to zero. Taxes aren't for the job creators, after all taxes are for people who work for a living.

The fact is that the rich haven't stopped paying for government, they just pay for it from buying Treasuries. The  trillions in revenue shortfall that we've had since the Bush tax cuts took effect has been made up by the rich. What else are they going to do with that much money? Create jobs? Please!

The rich don't want this problem fixed because it's not a problem. They just want to take public assets as payment until they own it all. Great scam if nobody catches on. But hey, once they own it all it will start to trickle down to the rest of us, won't it? "But, but, I've voted Republican all my life, why do I have to go live in a camp?"

12 comments:

Anonymous said...

Thirty one percent of U.S. consumers said they have no spare cash for discretionary spending.

http://www.huffingtonpost.com/2011/07/17/consumer-confidence-global-recession_n_901015.html

Anonymous said...

Well actually the uber-rich have been creating some jobs with their tax cuts. It just that these jobs are in China and India. As far as buying our public assets pennies on the dollar, how does Disney's Yellowstone Park sound?

Anonymous said...

"why do I have to live in a refugee camp" would be a better wording in the last sentence. This from a retired Air Force Master Sargent and Vietman Veteran.

prairie2 said...

I was thinking along the lines of "work" camps but maybe if you can get across the border the Canadians will keep you a refugee camp.

Anonymous said...

Hey Bruce, did you see this? From the 7/16 Barron's. It's an interview with a rating agency guy whose firm is NOT paid by the issuers of the securities he rates - what a concept. I tried to highlight the key bits but pretty much underlined the whole thing, so give it a read - would love to hear your take on Malloy sometime.

Gloomy Forecast for Europe's Banks

http://online.barrons.com/article/SB50001424053111904637304576434180949687522.html?mod=BOL_twm_fs#articleTabs_panel_article%3D1

prairie2 said...

re Barrons article: The idea that European banks are in trouble isn't new and it may bring down the Euro but worse than WWII? The American banks are zombies too. The whole "let the rich make the rules for banking" concept must change. By definition banks are always vulnerable to failure, remember George Bailey explaining that to his depositors in It's a Wonderful Life. That's idea for having a Central Bank that can print money. The EU has decided it can't do that with individual countries and they should just drop out (default).

You must keep in mind that all of this can be re-structured and doomsday is not required. The people pushing us to the edge are doing it for profit. If we do go over the edge it will be because of them.

Anonymous said...

Obama has caved to Boehner? Obama had to because he stands for nothing has no philosophy, belief system or anything. Hard to hold the line when you have no line.

Anonymous said...

Obama will cave to Boehner? Obama has to because he stands for nothing has no philosophy, belief system or anything.

Anonymous said...

"The solution to the lack of jobs ..."

Stop looking for a job. Instead create a valued business using your expertise. Don't have any value/expertise? Better find some or expect a life of quiet desperation hoping the govt. saves you?

prairie2 said...

"Stop looking for a job" When was the last time you were out in the real world? Nobody is starting businesses, this isn't 1985, we have Super Walmart spreading across the country like a plague of locusts eating small businesses by the hundreds everyday. Small business needs saving by the government more than workers. Get a skill? All the new US corporate lawyers, researchers and engineers are in India. The only new businesses are meth labs. If you happen to live in a pocket of America where this isn't true, just wait.

Anonymous said...

I am in the fantastic real world everyday. I question if you are. I have started 2 different businesses in the past 3 years. Both are growing very well and basically debt free. It took me 2 years to make more than my old, dead big corporation job. I found a niche. No, meth labs. I don't compete with Walmart. Silly negative thinking will get you nowhere. I see so many opportunities now. Forget the govt. and that chump change social security check in old age. I refuse to put my faith in mindless govt. Those that do are in for big disappointment.

prairie2 said...

Apparently one of your businesses is posting talking points for a right wing think tank. Is the other one mowing lawns for rich guys? Not everybody can find a niche, there just aren't that many. It's like the Amway recruiters that tell you that everybody can sell Amway and get rich. And seriously, do you have any idea how much you need to invest to give a return equal to Social Security? Lawn mowing isn't going to amass that kind of capital.