The GOP held President Obama hostage over extending the Bush-era tax cuts – the ones that have added $2.5 trillion to our national debt over the past decade.
Obama wanted them extended only for those making $250,000 or more.
The Republicans told him to shove it: They aimed to bail out the billionaires too, and were happy to see everybody in the country get hit with a whopping tax hike if they didn't get their way.
- Fact 1: It proves the Republicans are not the party of the ‘working’ American. They basically dangled America’s blue-collar workers over the fire and told the Democrats “Do what we say, or we’ll let them burn.”
- Fact 2: The Republicans aren’t interested in reducing the federal debt. They only rile up the ‘tea party’ to complain about federal spending when it’s the Democrats doing the spending.
But he didn’t. Instead, he ‘compromised’ (or capitulated.) Why? Because if he didn’t, the GOP would have stymied the tax breaks and we’d have all been hit with increases from January 1. He’d have been blamed for that, even though the Republicans were the ones pulling the trigger.
What was truly astonishing to me was that even out of polled Republicans, 46% said they’d prefer the tax cuts extended only for those earning under $250,000 a year. Another 14% (the few true fiscal conservatives) argued that the tax cuts should be left to expire completely, and we should all pay more (and halve our foreign debt in less than a decade.)
So with the majority of Americans – and even the majority of their own party – supporting richer Americans paying more – why did the GOP use every political dirty trick to get these tax cuts passed?
Well, that’s where the veneer starts slipping.
- Fact 3: The ‘Grand Ole Party’ actually represents the interests of America’s ‘grand ole’ corporations and foreign masters – not a single working American.
They wile us with tales of how giving tax cuts to the rich creates new jobs and new opportunities, when in fact those jobs are outsourced to India, and workforces are downsized systematically rather than expanded.
Since the days of President Regan – when the GOP’s lunatic economic policies were first introduced – the gap between rich and poor has become a chasm. During Bush’s tenure as President, the average working American actually got poorer, even through the economy grew. The simple fact is, America has continued to grow a bigger economic pie, but the richest Americans are taking ever-larger slices of it, at the expense of everybody else.
Hey, I’m no socialist. I’m not interested in redistributing other people’s hard earned wealth. I don’t think anybody should be punished for hard work and success by being paid to pay more than their fair share…
But I do think people do need to pay that share – and in an economic recession, with 10% unemployment, falling wages and increasing poverty, I don’t see why those ‘people’ should always be the ones who can least afford to pay.
The GOP proved today that they’re the sycophantic puppets of an economic elite – of Wall Street bankers and corporate CEOs. America should encourage groups like the Tea Party to rally together and purge Washington of their self-serving ilk.
“If the American people ever allow it… …banks, and the corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”Thomas Jefferson
To show just how disconnected the GOP have become from their core constituency, check out this new blog by the Anonymous Tea Partier. He outlines a rational compromise the GOP could have taken regarding the Bush tax cuts.