Sunday, September 23, 2012

Bush Tax Cuts and Spending Cuts Both Bad - So Cancel Them Both

Seriously, can we stop the bipartisan bullshit about how we can only prevent massive spending cuts that will throw us back into recession if we let billionaires keep their Bush tax cuts?

Because that is precisely the opposite of the facts. The opposite of reality. The opposite of the truth.

There's an easy way to avoid this "fiscal cliff' boogeyman everybody's trying to terrify you with:

End the Bush tax cuts for the rich. That makes the motherfucking parasites start paying the fair share they haven't paid in more than 30 years.

Once the too-lazy-to-even-be-cocksuckers billionaires pay back the trillions they've stolen from the working class, that puts enough money in the Treasury to not only cancel the economy-killing spending cuts, but also to launch trillions in infrastructure investment that creates millions of jobs, growing the economy and eliminating the deficit the old-fashioned way.

Travis Waldron at Think Progress:

The United States is approaching the so-called “fiscal cliff” at the end of 2012, when a set of policies enacted by the debt deal reached in August 2011 will go into effect. In addition to massive spending cuts, several tax provisions will expire, including the full Bush tax cuts.

Though both the GOP and Democrats agree that the low-end Bush tax cuts, those that give everyone a tax cut but primarily affect the middle class, need to be extended, Republicans have blocked that in order to leverage an extension of the upper-income tax cuts. The logic, Republicans argue, is that not doing so will raise taxes on “job creators” at a time when the economy can least afford it.

An analysis of the fiscal cliff policies by the Economic Policy Institute, however, found that the cost of the Bush tax cuts — and particularly those for high-income earners — far outweigh the benefits:

SNIP

The findings are similar to an earlier report from the Congressional Budget Office that found the expiration of the high-income Bush tax cuts, once multipliers are added, would cause far less economic damage than spending cuts to the discretionary budget favored by Republicans.
Cancel the Bush tax cuts for the rich AND the economy-killing spending cuts. Now that's bipartisan.

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