Ugh.
Just another Washington-style compromise. Merry Christmas!
The Senate Republican leadership telegraphed on the Sunday- morning talk shows that a compromise to extend unemployment compensation and the George W. Bush-era tax cuts is in the offing.In other words, government is doing exactly the opposite of what a fiscally responsible government should do. We refuse to raise taxes on those who can most afford to absorb higher rates in the name of deficit reduction. We're going to continue spending additional revenue on social assistance programs without insisting that the spending be offset with cuts elsewhere. And both sides get to pander to their core constituencies while future generations of taxpayers get soaked.
Senate Minority Leader Mitch McConnell (R-Ky.) and Sen. Jon Kyl (Ariz.), the Republican whip, told different interviewers that they expect Congress to vote for the tax cuts, which have been in effect for almost a decade, to continue unaltered for at least several years in exchange for an agreement to extend an emergency unemployment program that expired last week for millions of people.
Just another Washington-style compromise. Merry Christmas!
3 comments:
Take it a step further. Not only do we expand benefits by not paying for them (especially by raising the taxes of those who laid off a lot of those people and pocketed the profits that resulted), that's bad enough. But then we REDUCE the revenues of the "underfunded" Social Security on top of it.
It makes zero sense on any fiscally responsible level, and I've already emailed my Senators and Tammy Baldwin to tell them to vote NO on this. D.C. is truly a bubble that has no connection to the world we have to live in.
This is the message from November, we are going back to the jobless Bush years where deficits don't matter, all tax cuts are good, rich people matter the most in our society because they are the victim class and everyone deserve a break or benefit regardless of need. Republicans learn nothing from the past, Democrats learned less.
spending additional revenue
Wrong.
Spending additional borrowings.
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