HeffBombs

Calling out the Right, Republicans and other jerks in politics

The Gloves Come Off…FINALLY!

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Could it be?

Is the long, dark cave-athon to the republican party over?

Its been tough, lo these last few years.  Universal Health Care?  No dice.  Tax cuts for the wealthy?  Maintained.  Stronger clean air standards?  On hold.  Debt ceiling crisis solution? 100% spending cuts.  Address to joint session of congress?  Rescheduled.

Yes, pretty painful to watch.  Compromise is great when the other side is willing to meet you halfway, but not when it means “we get everything WE want, and you get nothing.”  Where’s the 2008 Obama?  Where’s the backbone?  How about some Democratic ideals winning the day every now and then?  What, on earth, is your strategy, Mr. President?

Here it is:  math.

Warren Buffett (why aren’t more rich people like this?) once complained that his secretary paid a higher tax rate than he does.  (Buffett, whose net worth in 2007 was approximately $52 billion, paid just 17% on earnings of $46 million in 2006, his $60,000/year secretary?  30%.)  He called out his fellow richies at a recent fundraiser for Hilary Clinton:  “If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”  Wow…just imagine the 3rd wealthiest person in the world saying that to a room full of rich donors.

Obama has (FINALLY) seized the moment.  “Either we ask the wealthiest Americans to pay their fair share in taxes, or we’re going to have to ask seniors to pay more for Medicare,” Obama said on Monday. “We can’t afford to do both.”

Wow…

In addition to inisting…err, again…that the Bush-era tax cuts for upper-income earners be allowed to expire, he has proposed the “Buffett Rule“:  a minimum tax rate for millionaires and billionaires.  This “controversial” idea that the wealthy should pay at least the same tax rate as lower income earners isn’t going to fix everything, but  makes a powerful statement on priorities.

As expected, the republicans respond with cries of “Class Warfare” to any suggestion that the wealthy pay a little bit more of their fair share to help our country pay for what it needs.  They fail to see the irony that by creating a system that favors the welfare of the rich and large corporations at the expense of social safety nets (which they call “living within our means”), they are merely…well, there’s no point using logic here, right?  Elizabeth Warren, Democratic candidate for Senator in Massachusetts recently said “There is nobody in this country who got rich on his own“.  Its time to give back.

Anyways, its exciting stuff…or it could be.   The public is on the President’s side: more than 2/3 of the country, including a majority of republicans (believe it), favor increasing taxes on incomes greater than $250,000.   If you throw in eliminating subsidies and tax breaks for oil companies (some of which goes straight to Exxon Mobil, the MOST PROFITABLE COMPANY IN THE WORLD), and closing the loophole allowing hedge fund managers to claim their income as capital gains (this would raise $4 billion a year…from just 25 people), pretty soon, you’re talking real money.

Stand strong, Mr. President.

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Written by D. Heffernan

September 23, 2011 at 3:42 pm

One Response

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  1. We need to support Pres. Obama. He is trying to get things done incrementally, especially given the Republican Party Obstructionist agenda. I worst fear is to see a Republican President win the next election and repeal most of what he already accomplished. I have a son who is divorcing his wife because she must have a personality disorder and causes all sort of problems–obstructionist always. This fight with Congress Republicans (mostly) remind me of what he has had to go through for over 17 years–he never wins.
    When “Don’t Ask Don’t” Tell went through this week I remembered how all of us were upset with him because he wasn’t doing it fast enough–but it did get done! We need to support him and keep trying to get whatever we can do –do!

    Maggie

    September 23, 2011 at 5:14 pm


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