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Wednesday, December 8, 2010

Obama gives in on virtually everything........and it's still not enough for the right

He couldn't even get any concession on those making one million or more a year. With the marginal tax system someone making $1.5 million a year would have had to pay $20,000 more a year in taxes. A majority of Americans believe we should sunset the Bush tax cuts on the top 2%. Hell, even a majority of Republicans think we should do the same but the theology of tax cuts as the cure all for everything is etched so deep among those playing the game in Washington other opinions are irrelevant.

The biggest fucking joke is that the excuse the GOP kept using was 'uncertainty'. Companies weren't investing because of uncertainty about future tax rates for wealthy individuals. That excuse ranks slightly better than 'the dog ate my brilliant bipartisan plan to save the American economy and I forgot to save the file before I printed it.' Now they'll have another two years of 'uncertainty' to bandy around just in time for 2012 while we can sit back and see just how tax cuts for the rich create jobs.

Now we can all focus on trimming around the edges of the budget for show.

And all of this is still not enough

Sen. Jim DeMint and others are outraged that the 'death' tax hasn't been completely and permanently abandoned. WWPD (what will Paris (Hilton) do). The compromise on that wasn't unreasonable despite some whining from the left and right. Leaving $1 million exempt and then 55% on the balance was unfair, especially when there were 3 or more children splitting the inheritance. At the same time there is something absolutely wrong about letting someone like Paris Hilton walk away with every last penny.

If Obama only had the balls to use his bully pulpit to explain the reality of America's current economic position. All this to get unemployment extended for another 13 months when every extension in the past 40 years when the rate has been higher than 7.5% has been rubber stamped.

And the House Democrats are pissed as well.

At this point, let all the tax cuts expire, then start all over again. Get rid of tbe 15,000 amendments passes since 1980 and come up with a reasonable tax system. Shit, I forgot the GOP will be running the house come January, Never mind.

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