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Tax Cut Magic

December 2nd, 2010 · No Comments · Politics, Taxes

The Neocons, formerly the Republicans, (there are now no remaining Republicans) have a unique perspective. On December 2, 2010, the Democrats, and a few Neocons, in the House of Representatives voted to give every taxpayer in the United States who earns less than $250,000 a tax cut.

The Republicans not only did not vote for it but they idiotically referred to it as a “tax increase.” Apparently they have the idea that their friends on Conservative radio and on Fox News and on the Fox Television Channels will cover for them. Or they consider that they have some kind of secret that will change cuts into increases.

Because billionaires and multi-millionaires…poor things…even the 700 billionaires and multi-millionaires who said that they do NOT want or need a tax cut…will not get one, Senator Mitch McConnell and his fellow Neocons in the House continually, ridiculously call it a “tax increase.”

Once again, it points to the fact that the American people are monstrously stupid and under-educated. They recently voted for all these Neocons who now say, clearly, without any misunderstanding, that they don’t want to give 90% of the people a tax cut. Tax cuts for people earning under $250,000 are “tax increases.” according to the Neocons. A tax “cut” is when you give an $83,000 tax rebate to millionaires and above…which is what would happen if the Republicans had their way.

Should anyone care? Yes, but only because there is a commission right now trying to figure out how to cut government spending because we are so far in debt. The addition of unnecessary tax cuts for billionaires and millionaires would only contribute to that problem…to the tune of an additional $700 billion.

Neocon Republicans say that they need to give billionaires tax cuts because these are the “small businessmen” who will stimulate job growth. Well, actually, fewer than 2% of owners of small businesses have incomes over $250,000. So, 98% of small business owners will get a tax cut.

There is no need for a tax cut for millionaires and billionaires. What is a multi-millionaire like Dick Cheney or George Bush, both worth more than $25 million going to do with an extra $83,000? He already has all the money he needs.

The big need in this country right now is to do something to help the 4 million people on unemployment for more than 6 months, and something to create private industry jobs for another ten million. Cutting tax breaks for stockbrokers and bank vice presidents and health insurance company CEOs is not the way to help the tens and tens of millions of Americans who are suffering.

Let’s stop pretending that the rich need a tax cut. They don’t. But the government does need that money, paid in taxes to create jobs. We will realize $700 billion to the Treasury from not providing extra money to the rich. We could take $200 billion of that money and end the recession right now by giving 5 million people one-year jobs at $40,000. But the Neocons won’t hear of anything that helps the Middle Class.

To show how committed the Neocons are to the rich, David Drier of California, said: “Increasing taxes is a prescription for failure. It undermines the potential for economic growth.”

Was he on a different planet for a few hours? No. He was there, in the House of Representatives. He voted AGAINST the tax cuts for the Middle Class just passed by the House, and then simply called them a “tax increase.” He’s a liar, but you can’t really call someone saying something so stupid…”a liar.” Would you call someone who is looking at the Sun but who says the sun did not come up this morning…a liar….or just crazy.

(By the way, even if there were tax increases, Bill Clinton raised the top marginal rate from 35% to 39%, still the lowest tax rate in the world for millionaires, and we had budget surpluses and added 22 million jobs. But remember…the House passed a tax CUT for everyone under $250,000 this morning, December 2, 2010. Not an increase.

But of course those tax increases by President Clinton benefited the entire country. All 300 million benefited, not merely the top 1%. Under President Bush the top 1% increased their wealth by 20% while the bottom half actually now earn less than they did before Bush came to office. Not to mention the fact that after the Great Bush Recession we all have far less equity in our homes and investments.

It wasn’t just Drier. Many Neocons were before the podium. One would think that they would want to hide, since they voted against them because there were no cuts for, say, Paris Hilton and the Koch Family. But no. There they were…members of the Neocon Party on the floor of the House maintaining in some illogical (actually insane) way that these were…tax increases.

One of those was Minority Senate Leader, Mitch McConnell of Kentucky, who said “Wasting time on votes to raise taxes won’t create jobs.” Excuse us, Mitch. We thought that a piece of legislation to reduce taxes back to the Bush tax cut levels was, in fact, a tax cut for the middle class. Somehow that turned into a tax increase? Apparently, it is alchemy. Converting cuts into increases where no one with eyes, ears or a brain can see it.

So much for trying to get the Republicans to join in with the rest of American Society, those of us not making more than a million a year…to try to work our way out of this Great Bush Recession before it becomes the Great Bush Depression.

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