Posted 5 years ago on July 28, 2012, 1:28 p.m. EST by bensdad
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“The GOP bill would actually increase the average tax bill for 25 million households who earn less than $250,000.” The Nakedness of Their Greed
Do you stand with the GOP? or joe lieberman? or do you have the courage to...............
It's truly unbelievable: At no time in modern memory has the privileged class been richer, the middle class more endangered, or the number of people in poverty been so high. And yet the Republican Party, whose leaders are overwhelmingly wealthy themselves, is openly and shamelessly proposing to give more tax cuts to millionaires and billionaires - including heirs and heiresses who have done nothing to earn their riches - while actually raising taxes on millions of poor and middle class people.
There will be a time to engage in argument. But first let's take a moment to gaze in wonder at the nakedness of their greed.
Okay, moment's up. Now it's time for the argument.
In Plain Sight
Yesterday the Senate voted on a Democratic proposal to extend the Bush-era tax breaks for all income below $250,000 per year. Everybody would get that tax break, even billionaires. Taxes would go up for anything earned above that amount, and for some kinds of investment income. The bill would also preserve a number of tax breaks for middle class and lower-income working people.
Forty-eight Senators voted against the Democratic bill. Forty-four of them then promptly voted for the Republican proposal, which would keep the Bush tax cut for earnings above $250,000 - a cut which provides greater and greater tax breaks as you climb the earnings scale toward "millionaire" status and eventually ascend to the rarefied atmosphere of the billionaires' club.
They didn't even try to hide what they were doing. They didn't bury it in loopholes, or under pages of indecipherable legal language. They just ... put it all out there.
This is a stick-up.
The GOP bill would actually increase the average tax bill for 25 million households who earn less than $250,000. The Republican proposal would also end the Tuition Tax Credit, raise the "marriage penalty" (hey, welcome to our world, gay newlyweds!), and increase the tax burden for working families with kids.
Put up your hands, Mr. and Ms. America. This is a stick-up.
Bill Scher notes that the Senators who voted to raise taxes on the poor and the middle class while cutting them for the wealthy, then rejected the bill that extends tax cuts for the middle class alone, were now on record as believing that "the rich pay too much and the poor pay too little in taxes."
For his part, Senator Joe Lieberman voted neither for nor against the Democratic bill, officially placing himself on record as believing that "nonpartisanship" consists of standing for absolutely nothing.
Class Warfare Against Our Children
The Republicans want to impose these new tax burdens on the struggling middle class while giving an average cut of $160,000 in income and estate tax cuts for households that earn a million dollars or more. And if those households earn a billion or more, the breaks could run into tens of millions annually.
But tax deductions so a working family can send their kids to college, which is already all but impossible? No can do. Perhaps they feel that parents who want a better life for their kids should "know their place" instead.
The Republican proposal for taxable estates doesn't change life for ordinary households but, as the Center for Budget and Policy Priorities documents, rich kids inheriting their parents' money would receive an average $1.1 million in tax breaks - while parents working to support their children or put them through college would pay more.
The GOP proposal is nothing less than an all-out assault on any but the wealthiest children, closing the door to every struggling generation's dream of a better life. It's enough to leave a guy speechless.
Embarrassment of for Riches
Sure, they try to justify their actions, but it can't be done. It's actually embarrassing to watch them struggle to cover the nakedness of their greed with rhetorical fig leaves. "Only [our plan] is aimed at helping the economy," Senate Minority Leader Mitch McConnell (R-Ky.) said. "Only ours is meant to help struggling Americans in the midst of an historic jobs crisis."