Monday, December 6, 2010

Soak us all. Nobody exempted.

I'd be willing to be soaked with higher taxes if that's what it takes to soak millionaires and billionaires with higher taxes. Personally, I'd prefer that only the rich be soaked. But that won't happen. Because of political realities. The Republicans won't let it happen. They want continuation of the temporary tax cuts imposed during the Bush administration. The cuts are supposed to expire at the end of this year. Democrats would favor keeping the tax cuts only for people making less than $250,000 a year, which means 98 percent of us. But Republicans would filibuster such a deal. Because they want the richest 2 percent of us to get richer. With tax cuts, too. Of course, that would widen the already gaping gap between the nation's rich and poor. Therefore, the Obama administration has devised a compromise with the Republicans. To approve continuation of the tax cuts for the rich for an additional two years. Albeit, the cuts might eventually be extended far beyond that. In the end, all this tax-cutting is expected to add enormous amounts to the federal budget deficit. And the only solution will be to cut spending. Which means gutting social security and medicare and other entitlements that benefit the middle class and the poor. In other words, future generations of the middle class will be stuck with the bill. Our children and grandchildren. Instead of the elite rich. But if we raise taxes now on everyone, rich and poor alike, we'll all be paying. Now. So, I say, let us all make the sacrifice. By paying higher taxes. Until the deficit is eliminated. So we can save social security and medicare and other entitlements. Yes, let's soak everyone. To the tune of whatever it takes. That's certainly better than letting the gawd-damn rich off the hook. Yes, I'm willing to be personally soaked if that's what it takes to soak the rich. Soak us all. Nobody exempted. --Jim Broede.

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