Timothy Geithner reinforced the Obama administrations pledge to let the tax cuts for the wealthiest in our country expire, but continue them for the middle and lower income earners, you know, over 95% of us. Everyone get prepared to hear the same tired old “supply side” economics argument from the lobbyists for the rich, the Republican Party. Remember how those tax cuts in 2001 and 2003 were going to bring prosperity and good times to everyone? And where were we in 2007 when the economy started to tank or in late 2008 when the sky was falling, the next great depression was just around the corner, doom and gloom was everywhere….and President Obama hadn’t even been sworn in yet. I remember hearing idiots on the right trying to blame Obama for the crash even before he took office. Some claimed that it was because Wall Street was afraid of a Democratic president…blah, blah, blah. If Wall Street is so fearful maybe they ought to find another line of work. The corporate welfare they’ve always received from Republicans has made them a bunch of whiny, scared, overpaid babies. They often verge on holding a gun to the American people’s heads, “give us tax cuts or we won’t create any jobs.” Here is a bit from The Wall Street Journal…
“We believe it is appropriate to let those tax cuts that go to the most fortunate expire,” Mr. Geithner said at a breakfast with reporters.
House Speaker Nancy Pelosi of California appeared to back Mr. Geithner in ruling out a compromise. “Our position has been that we support middle-income tax cuts,” she said at a press briefing. “The tax cuts at the high end have increased the deficit enormously and…have not created jobs in the eight years of the Bush administration.”
These same people like to rail against government handing out money to poor people, but when it comes to handing it to them, the rich, they are all about that. And they say with a straight face that they are the job creators. Really, with record profits last year in all sorts of industries……prove you are the job creators, create some fucking jobs then and quit your goddamn whining. I have a bachelors degree in business and never in any of my classes did they teach me that the way to have a successful business is to rely on the government for handouts. They never taught us that to be profitable, you had to skirt tax laws, set up shop overseas, outsource our labor to impoverished nations for cheap labor and expect the government to not tax you in order to make a profit. Unless I missed that lecture, I was in my early 20’s after all. We did certainly get a lot of supply-side pimping from economics professors, however. I remember arguing with professors about it and would love to have a sit down with one of them now and say, how did that work out for you?
SIDE NOTE: I am nearing a milestone of 1000 comments on this new blog. Two more and I hit the grand mark. Who will it be…..there is no prize, sorry. :)