20% of our country’s kids are now living below the poverty line. The middle-class is crumbling. But Mitch McConnell? He’s going to the mat for those most suffering during this time of economic unease – our beloved, long-suffering rich people.
Yesterday, House Minority Leader John Boehner (R-OH) unexpectedly suggested that he could support President Obama’s plan to enact permanent tax cuts for the middle class while allowing the Bush tax breaks for the wealthy to expire. Boehner’s comments have prompted fierce pushback from conservatives in the House and Senate alike, who disagree with the public about giving tax cuts to the richest Americans. In a speech on the Senate floor today, Sen. Mitch McConnell (R-KY) argued that Obama’s plan would hurt “the people who’ve been hit hardest by this recession.”
Senate Republican Leader Mitch McConnell, R-Kentucky, announced Monday he will introduce legislation that would ensure that no one pays higher income taxes next year.
“We can’t let the people who’ve been hit hardest by this recession and who we need to create the jobs that will get us out of it foot the bill for the Democrats’ two-year adventure in expanded government,” McConnell said on the Senate floor.
Remember way back when our deficit was the biggest non-mosque threat to out fragile existence? Like a month ago? Well, nevermind that the Bush tax cuts constitute a huge chunk of these yearly deficits, Obama’s compromise would finger-blast the top 2% of tax payers with 3% more finger.
Good for people who make a lot of money. Shit, The Situation is going to pull in $5 million this year. I’ve read some people point to this as a sign of the apocalypse. Who cares? Saps are filling his pockets. Good for him.
But c’mon, Mitch. “Suffering?” Having to be a little extra conscious about your monthly ‘Dom’ intake is not suffering. Suffering is living under a bridge and eating shoe-sole-soup out of a rusty paint can.
This would be forgivable if it was a mere loss of perspective – which it’s not. It’s pure pandering to the people who have reaped the benefits of 30 years of GOP policies. Look, count your money but just stop fucking whining about “oppression” and shit like that. We get it. Many rich people are rich because they pride only their own selfish intentions. This is fine, but stop acting like disingenuous assholes.
And while we’re at it, why does someone making $100 million per year pay a tax rate just two points higher than someone making $175,000 per year? They must work 500 x’s harder.
President Barack Obama wants to extend the tax cuts for individuals making less than $200,000 and joint filers making less than $250,000 in adjusted gross income. That’s income from wages, capital gains and dividends, before standard deductions and exemptions are subtracted.
In a time of economic uncertainty, unemployment and revenue concerns for the government, this seems like a reasonable compromise all parties can get behind (Blue Dogs and GOP included).
But not to McConnell and the 2 % he really represents. As I’ve said before, there is no demographic more overrepresented in elected government than the “rich.” Not the right-handed. Not the Christians. Not even “old white men.” And sure enough, here’s what Mitch proposed this afternoon…
As promised, Senate Minority Leader Mitch McConnell (R-KY) this week introduced legislation proposing to make the budget-busting 2001 and 2003 Bush tax cuts permanent. The so-called Tax Hike Prevention Act wouldn’t merely drain $3.9 trillion from the U.S. Treasury over the next decade. At a time of record income inequality, the Republicans’ $700 billion windfall for the wealthy would virtually ensure a perpetual income gap. Call it PIG for short.
As the Washington Post reported, the price tag for the Republican scheme is staggering. Among the highlights of the McConnell bill are preventing a return of upper bracket income tax and capital gains rates to their Clinton-era levels and cutting the estate tax even as the threshold is raised to $5 million per person. Oh, and red ink as far as the eye can see:
For 30 years, policies by and for the rich have been imposed on our country. And congratulations, you’ve won. 1% of this country owns 42% of its financial wealth while the bottom 80% controls 7%. The top 2% have seen their income increase 281% in the last 30 years while most of the country has essentially flatlined. But it’s the rich whining about ‘suffering’ while the children of the poor and (crumbling) middle-class are sent off to your b.s. wars? Yet they pay no payroll tax over 105k and take in 89% of CG income taxed at %18. No one talks about that, huh?
Yes. You ‘suffering’ patriots sacrifice so much.
You’ve won. Count your fucking money and be thankful Reagan, Clinton, Newt, Gramm and W let you fix the system so you can reap money hand-over-fist while your cronies shipped jobs overseas. Just stop pretending you’re acting for the benefit of the rest of the country.
Gratuitous World 