Yes! President Obama intends to address our nation’s massive debt
29%
No! Washington DC is blind to the connection between tax cuts for the super rich and spiraling budget deficits
71%
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Thom's Blog Is On the Move
By webmaster
Hello All
Thom's blog in this space and moving to a new home.
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These are the same rates we paid under President Bush.
LOW TAXES ON THE SUPER RICH DO NOT CREATE JOBS!
The last 10 years proved that.
Bend over middleclass this time no lube heeh heeh ehheh.
I think the two choices in the poll are unfair. I believe, if Obama were the one and only person who had the say so, he would already have rolled back the Bush cuts for the rich, Don't you? Unfortunately, there are, (especially now), too many (rich and greedy) Republicans in the way of such a move. Also, I find it hard to believe that those who insist on continuing these cuts for the wealthiest aren't aware, or "are blind," (to) the fact that they do nothing to create jobs or help the little people. It's the little people that the GOP lie to that are being blinded.
Will Obama roll back tax cuts for the wealthy as stated in The SOTU? Yes! President Obama intends to address our nation’s massive debt - back into the future, postmarked sometime later. Just last month the issue of tax cuts for the wealthy was rolled back to the future. Obama will continue to say he is against tax cuts for himself and the other wealthy people during the campaign (now till 2012) but he will actually continue to shift the burden on to the poor and middle class just like he and the party with two right wings did just a month ago. Them mean old Repblicans made him do it, they took hostages and so he paid the protection money. So the story goes...
Now we hear that Social Security is projecting a deficit this year and Thom says it was planned for decades ago. But it was not supposed to happen yet. I have heard that the SS deficit will be $50B and that the payroll tax holiday will be >$100B. In other words, there would have been a surplus this year except for the tax cuts passed last session - again - one month ago. Obama says he wants to strengthen it. What he has strengthened is the specious argument that Social Security is in trouble.
A Republican plan carried thru by Obama who proudly noted the special 100% business write-off next year in the SOTU speech. Good luck recouping that accelerated depreciation with taxes on future profits when US corps are already offshoring more jobs than they create here. There is no limit on where the investment must be to qualify - jeez - a complete write-off for continued or accelerated offshoring. Of course, the ruling class in DC knows full well what they are doing: likely zero net tax revenue from corporations next year from this brand new provision while taxes go up on the poors (fewer credits) - next comes slashing services for the poor, sick and elderly to protect the profits of corporations and to preserve the growing bankrolls of the top 1-10%. Ahh ... feel the love?
Sorry, I think I have developed an allergy to hopium. I remember the tax deal of one month ago where the administration's ire was reserved for the people who opposed continued tax cuts for the rich. The Senate minority was able to force their plan through. The Senate rules were not addressed. They had two years. Could have used the issue to counter the Citizen's United cash flood in the mid-terms. Totally ignored the blue ribbon deficit commissions (raise taxes). Wont pass any change except more tax cuts for the wealthy corpses through the House now. A Progressive tax rate will most likely be restored sometime after hell and high water come our way, but then again maybe ... just a faint possible maybe ... maybe there is a true Third Way that will emerge outside the corporate partisan headlock on power in DC.
Obama's (in the name of Bush) Tax cuts for the exceptionally rich and the little bit for everyone else will expire in December two years from now while he is still in office and we are awaiting a new(?) inauguration in January. Sequel to be continued. Obama acts now like he had nothing to do with tax cuts for the rich. Conveniently doesn't mention it. Congress & the President received the CBO warning last September that this deficit would occur from tax cuts to the rich harming our economy. No action. December (last month) what did the President Obama do? Went solo behind closed doors with the Repubs to make our fall happen. Reality check: Now they act like they are all surprised it would hurt the deficit. Give me a break. Bush & Company is bringing the world to its knees for their own prosperity. We can walk around in rags and eat bad food from China for all they care. To the rich...the Bush 8 years plus Obama's tax cut to the rich (with the promise of more right wing agenda) is America's best time.
Social Security 2% cut from paycheck causes a shortfall in Social Security coffers DESPITE what they say. Now all our money put into the system will definitely not be given back to us. Eventually this all leads up to putting the social security money on Wall Street for rich folks to prosper and an intentional crash.