Tag Archives: taxes

Political Rants

Dear Santa.

I’ve heard a kind of depressing story the last couple of days about a bureau of the Postal Service tasked with opening letters to Santa Claus. Here’s a somewhat strange version from NPR’s All Things Considered in which Robert Siegel tries to lighten things up with some lame quips. They’ve been finding that, this year, kids are tending less to ask for gaming consoles and the like than stuff like warm coats, shoes, etc. Just a hint of how rough people have it these days – a peek into the Dickensian hellscape inhabited by the millions upon millions of children (and their parents) living in poverty. Our top-down economy is literally killing hope before it even has the chance to learn how to express itself.

I’m not a practicing Christian, nor am I big on organized religion in general, but if there’s one thing valuable about the Christmas season it’s the sense of possibility it can engender in people – not so much the expectation of personal gain, but more the notion that things can be better, that in the midst of an unforgiving universe, we can be fair and decent to one another. So in a way these letters show that, even in the midst of an unrelenting consumer culture, these kids are more focused on those ideals than might be expected. So even though Santa may not be coming for many of them, they are very good little girls and boys indeed.

That’s not to say that Santa isn’t coming for anyone. Not a bit of it. Our nation’s millionaires and billionaires can now expect a little something extra in their Christmas stocking, like another yacht or a Lamborghini, perhaps. Yes, the tax compromise package has been passed by both houses of Congress and is on the way to Obama for his signature. That means low, low taxes for everybody, ludicrously low estate tax rates, and an untold bonanza for the richest 1% in general. Also… a pile of additional, non-investment debt to be paid off at some point uncertain, a significant undermining of the funding vehicle for Social Security, and a paltry 13-month extension to unemployment benefits.

And for those kids, maybe some second-hand shoes for mom. Jesus… this is why we suck.

luv u,

jp

Political Rants

On capitulation.

Okay, so the president has a bit to apologize for. He’s not alone in that respect – plenty of blame to go around here. Fact is, the administration is certainly wrong to criticize the liberal-left for denouncing the deal he cut with Republicans this week. If the president was painted into a corner, it was not by the left. The Congress members who were dead set against raising the tax issue before this past election were “Blue Dog” conservatives, worried about offending their constituencies – the same voters that would soon send more than half of them packing.

It is now these conservative Democrats that Obama is relying upon during the lame duck session to shepherd this deal through the House. It seems likely that most Republicans will support it, so he hardly needs the entire Democratic caucus. In any case, the capitulation happened a long time ago. At this point, the main thing is making certain that unemployed workers get the help they need. I don’t care how we get there, particularly, so long as they don’t give away the store… and reserve the right to start fighting again fresh on January 1.

There will be a lot to fight about, particularly when you consider how the Republicans have been behaving in the wake of their electoral victory. To wit,

  • Jim DeMint has talked about the possibility of making unemployment insurance more like “a loan” to give unemployed people incentive to go to work. No, really… he’s serious.
  • The main talking point on these upper income marginal tax cuts is that they are “NOT tax cuts”, that to not implement them is, in fact, a tax increase.  I heard Jon Kyl plying this one yesterday. A little wordplay here – perhaps they don’t remember that when they invented these tax cuts nine years ago, they put an end point on them. The tax cut has a time limit; when that passes, it’s over. Extend it, that’s a new cut because it involves additional billions. Got that, Jon? 
  • Tax cuts for the rich don’t add to the deficit. Unemployment benefits do.

You get the picture. One last point… it was mentioned in passing on NPR business news today that American corporations are sitting on $2 trillion in cash. Sitting on it.

Again… do these people really need a tax cut?

luv u,

jp

Political Rants

Pay days.

Writing this totally on the fly, so try to read fast and skip over any errors in grammar (or judgment). Have a heart, will you?

Tax fraud. It was probably inevitable that, as the sunset for the Bush 2003 tax cuts approached, the chorus of whining from the well-to-do would begin in earnest. Now we are faced with the remarkable phenomenon of hearing politicians who identify the federal deficit as public enemy #1 argue forcefully for an extension of tax relief for millionaires that will add hundreds of billions of dollars to the national debt over the next ten years. I know Americans have a short memory, but some of you out there must surely remember the 1990s. Were rich people overtaxed in those days? They seemed to be living pretty high at the time. Then their president, W. Bush, had the audacity to deeply cut their taxes with one hand while he launched two pointless wars with the other. Having blown a huge hole in the budget, they now want to stretch it wider. Time to come in now, children. You’ve had enough fun.

Job one. The president has been speaking a bit more forcefully about the economy in recent days. That is good, but not good enough. We need a deeper, broader commitment to the notion of full employment in this country, and to back it up with some appropriate action.  Various T.V. pundits blandly claim that there is little government can do, but I disagree. The fact is, government has to take steps to provide incentive to industry to employ workers in this country. They could start with procurement. The entire Federal Government, including the Defense Department, should require all contracts to be fulfilled with U.S. labor. If we need it, let’s build it here. We’ve got the skills, the money, and a workforce more than ready to do the work.

Would this be in violation of our myriad trade agreements? I hope so. Then maybe we could dump out of them altogether. That is the commitment Obama needs to make. Stop making it easy to export manufacturing and other jobs. Use the power of the federal government to drive domestic manufacturing and service employment. And for Christ’s sake, if people are willing to work and can’t find a job, provide them with work.

There’s plenty that needs doing in this country. Let’s get it done… and put people to work at the same time.