The Truth About Taxes

Parade magazine recently ran an article that examined the tax plans of Senators Barack Obama and John McCain. Tax policy expert Alan Viard of the Conservative American Enterprise Institute said the following:

 

While the aggregate tax cut is bigger for McCain, a larger number of voters get more money under Obama's plan.  Obama is choosing to emphasize tax cuts for the middle class, whereas McCain's strategy is to keep rates lower at the top as a way to facilitate long-run growth.  For example, a person with an income of $1 million could see his taxes increase under Obama by $94,000, whereas under McCain's plan he could save $48,000.. 

 

For those who follow the economy and past tax plans of Republicans, one can quickly see McCain's tax plan represents the failed ideology of trickle down economics.  As recent as seven years ago, President Bush pushed his tax plan that benefited the wealthy and said that his tax plan would create a sustained economy, new job creation, and investments by the business community.  So far, those objectives have never been reached, and instead we have had two recessions, Wall Street and financial market melt downs, and the use of billions of dollars of taxpayers money to bail out corporate America.

 

The country can no longer afford this Republican tax give away at the expense of the average American. Where is the long-run growth that Republicans promised?  Nowhere to be found, and now it's time for the middle class to have the benefit of tax relief.

Think About It

Nightmare On Pennsylvania Avenue

President Bush's administration has proved once again why Republicans should not be in charge of our nations safety or our economic/fiscal well being.  What has happened to our country and its people is a direct result of Republican ideology and arrogance.

 

After being sworn in as our 43rd President, Mr. Bush set a course to bring kingship to Washington where he would rule as such.  It started prior to taking the oath acting in tandem with the warped mind of Dick Cheney.  From that day forward, there would be no open government for the nation and its people.  Everything would be done in "hush-hush" and secret --- no checks and balances, no oversight, no regulation and above all, never answer to Congress or any other entity.  

 

They met secretly with representatives of the energy industry and made decisions that affect Americans and kept the details of those discussions and decisions secret.  The people would later find out the details in the form or $130/barrel oil and $4.00/gallon gasoline.

 

They started a war and occupation with Iraq over WMD that did not exist and payed only lip service to the people responsible for the tragic events of 9-11.  

They adopt Reagan's ideology of trickle down economics with tax cuts that benefit the wealthy instead of having a true economic and fiscal policy for a sustained economy, job creation, and balanced budgets.  They have since joined other Republican administrations in having one of the worst job creation records in the last 60 years and having ended their last year in office with job losses every month, stock market and financial market meltdowns, and a recession in many sectors of the economy.

 

They walked away from the balanced budgets and surpluses of the previous administration and committed the nation to record deficits and record debt.  With Bush having a 27% approval rating, we are a nation and a people without a true leader. 

Good news, however: The nightmare is almost over.

Time For Action

Both Presidential candidates and their party have attacked the excesses of corporate America, Wall Street, CEO's golden parachutes, and other extreme benefits to the wealthy.  It's a good sign but remember this is an election year.

 

If both parties are serious about this rape of America, now is the time for Democrats and Republicans in Congress to come together and demand, "no more."  They should put corporate America and their lobbyists on notice.  There will be regulation, oversight, checks and balances, and accountability. No more special favors and no more special access to members of Congress. 

 

The second thing both parties must do is review the tax code and eliminate all the loopholes that benefit the wealthy and well-off.  Loopholes and special favors do not get into the tax code by accident --- Congress put them there and Congress needs to fix it.

 

Reigning in the excess of corporate America won't be easy, but it can be accomplished if both parties exhibit backbone.  The time is right and the voting public should demand action and hold both parties accountable for their actions, or rather, inactions.

Personal Attacks, a Republican Trademark

Weeks after the Republican National Convention that showcased VP candidate Governor Palin, her absence from the news media and her debate with Senator Joe Biden have given the American people a chance to digest what McCain-Palin stand for.  How have the people responded?  They have pushed the Obama-Biden ticket to the top of the polls with Obama-Biden leading in most so called battleground states.

 

So now both McCain and Palin are doing what define Republicans best: personal attacks against their opponent. As I have written before, Republicans can not articulate where they stand on the issues, so they turn to vile personal attacks.  

 

Obama is and will continue to handle the trash talk better than John Kerry did in the 2004 election against his Bush.  Every time McCain-Palin open their mouth the American people get a preview of just how radical they really are.

 

Their personal attacks are a sign of weakness and a inability to be civil at a time when our country and its people face serious problems.  Contrary to their campaign logo, McCain-Palin are not putting America first.  The American people must beware of those who are desperate to win.  

Sarah Palin vs. Joe Biden

Governor Palin brought a smile and a wink to the VP debate, but unfortunately it was no substitute for substance at a time when the American people are looking for real answers to their real problems.  Palin can be folksy all she wants in an attempt to connect with voters, but voters don't want "cute" behavior from their leaders, they want to hear solutions.  

 

On the other hand, Senator Joe Biden answered the questions with substance, knowledge, and a command of the facts.  He also showed civility and respect toward Governor Palin, and in return, to the people who are looking for answers.

 

The day after the debate Republicans said Palin handled herself well.  They also commented how her folksy talk would go over well with the people.  But it was Biden's performance and knowledge that showed he is the one ready to be President should that ever come to pass.  That is what a major part of this election is all about.

Chicago Is Going Green; the Nation Must Follow

The New York Times reported that Mayor Richard Daley of Chicago unveiled perhaps the most aggressive plan of any major city to reduce heat-trapping greenhouse gases.  The blueprint would change the city's building codes to promote energy efficiency, and calls for installing huge solar panels at municipal properties and building alternative fueling stations.

 

The city plan draws on the work of climatologists that warn that failure to act will produce dire consequences.  The Chicago initiative included consultation with business and labor leaders, as well as scientists and environmentalists, and involved 18 months of research and discussions.

 

The mayor is not waiting for the federal government to act and that is to his credit.  More mayors and governors should follow his lead in making their cities and states green.  The rewards will be great in so many ways.  It will also force the federal government to get serious. 

Reality: Will It Prevail On November 4?

Republicans always find a way to ruin the economy and lose jobs for the country and its people.  They lack fiscal discipline and respect and as a result have no broad based economic policy.  President Bush, John McCain, and the Republicans are so out of touch with reality that it has reached a pitiful state.

 

The problem with the financial industry has been know for some time but no action was taken.  Same can be said for the record escalation of oil and gasoline prices and the problems that cropped up on Wall Street early in his Presidency.  The country has lost jobs every month so far this year and the stimulus package came after the fact.  The President has been AWOL in facing these problems and taking action.

 

Iraq and Afghanistan will be turned over to the next President and Mr. Bush continues to dodge the issues and the problems his policies created.  With the Presidential elections only 4 weeks away, Senator McCain and the republican party are still in denial and offer more of the same.  Hopefully the public will cast their vote for reality on November 4.

Job Losses Continue To Take Its Toll

The Labor Department announced the economy lost 159,000 jobs in September, the ninth straight month of job losses and the highest since 2003.  So far this year, the economy has lost 760,000 jobs and the department says more will continue.

 

Job creation on a steady basis has never been a priority for Republican administrations and certainly not the administration of George W. Bush.  The reason is because Republicans have a tax policy and not an economic policy for a sustained economy.  Job creation in the first term of this President was the worst since Herbert Hoover.

 

The norm accepted to define a recession is two quarters in a row of negative growth.  But serious people know job creation is in recession,  the housing market is in recession, the financial markets are in recession, and the economy is in recession for the middle class.

 

Our economy is locked down and drowning in federal deficits and debt at record levels.  The Republicans want to bankrupt our country so the neocons can kill social security, medicare, and other needed programs they hate.  One can expect the meltdowns that always happen on their watch. The Republicans have run the country 20 out of the last 28 years and their fiscal and economic record is pitiful.  They say government is the problem, but it is their kind of government that is the problem.

 

Our country and its people are in for hard times in the near future because of their reckless policies.  The problems can not be reversed quickly and it's not going to be easy to dig the country out of the hole that has been dug.  On November 4th, the American people need to be involved in our political system and hold those elected officials responsible for their reckless action.

A Message For The American People

Are the people really upset about the $700 Billion bail out of the financial industry that uses tax payers' money as the news media seems to be reporting.  If so, I wonder how much they are up set, or if it will be just a passing fad. 

 

The record prices for oil and gas the people have been paying for because of corporate greed and Mr. Bush's failed policies ---  have the people really changed their driving habits and are now willing to consume less gasoline and or purchase more fuel efficient vehicles or will the people fall back to their old ways once prices start coming down?

 

The government's latest report shows the cost of the Iraq war at $600 billion and our current President can't tell us when the war will end.  Will the final cost be a trillion dollars or more?  The tax payers are paying for the war also. 

 

President Bush's deficit spending when he leaves office will be over $2.3 trillion.  The tax payers are also paying for that reckless behavior plus the interest paid on the borrowed money to pay for the deficit.  The interest payments alone for fiscal 2006 and fiscal 2007 was over $400 billion each of those years.

 

So that the people, the tax payers, can get an idea how their tax dollars are wasted, add up all those numbers and just think what this money could have been used for in relation to the needs of the people.  Do some research and see for yourself just how reckless this administration has been with your money.

 

If we, the tax payers don't change the status quo and demand more accountability from government officials and demand responsible spending policies we have no one to blame but ourselves.  President Kennedy once said, "Our problems are man made, therefore they can be solved by man."  Are we the tax payers up to the challenge?  History tells us we better be.