Thursday, July 22, 2010
TAXES - July 22, 2010
In last week’s Times, Paul Krugman alerted us to a change in polemic on the part of GOP. Abandoning their fixation on the debt, they have decided that it is more important to re-enact the Bush tax cuts for the rich. By the time this comment reaches them, they will have in their heads in their argument that the debt is unimportant, and will be pressing for the recovery potential of the tax cut. They are so deep into their hubris that they cannot see what a wonderful opening they have left for the Dems. I recommend that Obama and co. should go for a tax cut themselves, but in the form of a cut in 5G of taxable income from the bottom of the tax table. It would be a straight out tax cut for every taxpayer as against a restoration of the Bush giveaway to the rich. It would mimic the action of the Tories in GB in a simple act of money for the rich against money for everybody. And as recovery it would be surer that the taxes saved would go into consumer goods than into stock market gambling. It would be easier to enforce and cost less in income manipulation. In addition, it would be on a field where a simple veto could block the GOP move if it failed to persuade the ordinary voter that they would rather have the saving for themselves than pass it on to the banksters and their gang. If the Dems will not take this initiative, then there is 0 to be said for them, and if the voters will not respond to this choice, they become the authors of their own victimization. It has always been easy for slick lobbyists to get the voters to support the fat cats rather than themselves, but in this plan, it is tax cut against tax cut, us against them, and if the Dems will let this opportunity get away from them, then they would be as worthless as some of my left-wing friends tell me. I hope that Tammy Baldwin will take up this stratagem and pass it on to Sen. Feingold.