Taxes, no one likes them, especially income taxes but every one knows they are necessary until another source of revenue is found to operate local, state and the federal government. We also know that the Reagan and Bush 43 tax cuts benefited the wealthy the most and threw the relationalship out of kilter compared to the tax middle income Americans pay. Taking together with the tax loop holes and breaks that are tilted to help the wealthy and Corporate America, one can see how tax fairness is a real issue in the November elections.
The wealthy, which includes Mitt Romney responds to this unfairness with the following talking points: "We simply follow the tax laws and if loop holes exist we take advantage of that. We are not ashamed and take advantage of what ever the tax code allows". Journalists seem to get tongue tied by these talking points of the wealthy, Corporate America and Mr. Romney but the answer to the talking points is very simple. The wealthy, Corporate America and Mr. Romney spend millions of dollars in campaign contributions to members of congress to lobby them to write the loop holes and create those tax breaks in the tax code for their own self interest. Their money talks and there are enough people in congress who are willing to create those tax breaks and loop holes. In other words those tax breaks and loop holes are not earned, they are bought.
The latest loop hole to be exposed is that Corporate America can ship American jobs over seas and can deduct that expense on their taxes. Does any one believe that congress thought about this loop hole on their own? It shows what the wealthy will do to avoid paying their fair share and how many in congress are yes men to that wealth.
America was a better country in all phases when the wealthy paid their fair share. The wealthy now not only want to pay less, they now also do not care about the harm they have done to the country, its people, the economy and job creation. President Obama has a responsibility to see that congress changes the status quo of this unfair problem.
Friday, July 20, 2012
The Greatest Story "NEVER" Told By The News Media
There was a best selling book by the title, "The Greatest Story Ever Told" that was about biblical times. The Greatest Story 'NEVER' Told concerns political time still fresh in our memories but some how was never told while the story was taking place nor was the ending results ever told by the national news media.
The story is about how a "business man" President with an MBA degree in just eight short years reversed the health of the nations fiscal house. That President was George W. Bush. When President Clinton left office the national debt at the end of his last fiscal year budget stood at $5.8 trillion, a very manageable number. The federal budget was balanced four years in a row with record surpluses and the national debt was actually paid down by almost one half trillion dollars. The talk actually turned to eliminating the national debt completly since our fiscal house was in such good shape.
But along came "business man" President Bush 43 who's party controlled both houses of congress and immediately plunged the nation back into deficit spending at the end of Bush's very first fiscal year budget. That deficit spending continued through out his two terms in office and at the end of Bush's last fiscal year budget the national debt stood at $11.9 trillion, a whooping increase of $6.1 trillion or 105% in only eight short years. Bush also left office with out balancing one federal budget during those eight years. Needless to say not one penny was paid down on the national debt.
The national news media was silent while the Bush administration was tearing down our nations fiscal health and was also silent how that administration's fiscal policies has cripled the nations fiscal health for many years yet to come even though it is being played out at the present time. The same news people are pushing the republican talking points that Mitt Romney, a "business man" is the best choice to put our fiscal house back in order. Never mind that his stated fiscal policies would be the same as Bush's policies.
Understanding the past is still the key to the future and democratic Presidents have a superior record than republicans in moving the country and its people forward in every area that counts the most. The only firsts the republicans lead in are: Deficit Spending and creating debt and the largest increases in federal spending in the last 32 years. They also lead in creating less jobs than democrats by far. There is really no propaganda if the news media told that story as it was unfolding. It would just be a story to help the American people understand what happened on Bush's watch and how a "business man" President with an MBA and a flawed conservative ideology let his country and its people down. And that really says it all.
Note: References to deficit spending and the national debt taken from the CBO records and records of the Treasury Department.
Note 2: See previous commentaries on deficit spending and the national debt published here in PolitiDose.
The story is about how a "business man" President with an MBA degree in just eight short years reversed the health of the nations fiscal house. That President was George W. Bush. When President Clinton left office the national debt at the end of his last fiscal year budget stood at $5.8 trillion, a very manageable number. The federal budget was balanced four years in a row with record surpluses and the national debt was actually paid down by almost one half trillion dollars. The talk actually turned to eliminating the national debt completly since our fiscal house was in such good shape.
But along came "business man" President Bush 43 who's party controlled both houses of congress and immediately plunged the nation back into deficit spending at the end of Bush's very first fiscal year budget. That deficit spending continued through out his two terms in office and at the end of Bush's last fiscal year budget the national debt stood at $11.9 trillion, a whooping increase of $6.1 trillion or 105% in only eight short years. Bush also left office with out balancing one federal budget during those eight years. Needless to say not one penny was paid down on the national debt.
The national news media was silent while the Bush administration was tearing down our nations fiscal health and was also silent how that administration's fiscal policies has cripled the nations fiscal health for many years yet to come even though it is being played out at the present time. The same news people are pushing the republican talking points that Mitt Romney, a "business man" is the best choice to put our fiscal house back in order. Never mind that his stated fiscal policies would be the same as Bush's policies.
Understanding the past is still the key to the future and democratic Presidents have a superior record than republicans in moving the country and its people forward in every area that counts the most. The only firsts the republicans lead in are: Deficit Spending and creating debt and the largest increases in federal spending in the last 32 years. They also lead in creating less jobs than democrats by far. There is really no propaganda if the news media told that story as it was unfolding. It would just be a story to help the American people understand what happened on Bush's watch and how a "business man" President with an MBA and a flawed conservative ideology let his country and its people down. And that really says it all.
Note: References to deficit spending and the national debt taken from the CBO records and records of the Treasury Department.
Note 2: See previous commentaries on deficit spending and the national debt published here in PolitiDose.
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