Jun 4, 2011

We Don't Have a Problem With Social Expenditures, We Have a Problem with Revenue (and tax breaks to the super rich)

The US is hitting the debt ceiling and without Congress' authorization the country will default. This dangerous game of dare is being played by the Republicans who want reductions in social services in order to raise the debt amount the US government can borrow. Of course, it is now--under a Dem president--that the GOP suddenly because fiscal conservative! Half of the $14.5 trillion is the result of a Republican president and a Republican Congress.

Oh, and let's not forget the excessive militarism, the tax breaks to the elites--that have increased the outlays and decreased the revenues! Their presidential candidates are running on the slogan that Obama failed to fix the economy, while they forget that 3 years ago this president inherited the Great Recession.

Yeah, why hasn't Obama fixed the economy yet? The Republicans don't want to acknowledge that we have a revenue problem, because the rich (individuals and corporations) don't pay their dues! What's their due? You tell me. What's fair as a percentage of someone's income? I bet you'll be wrong as to what you think it's fair and what's actually being paid in taxes.

It's a myth that the middle class and the poor don't pay taxes--a myth that's perpetuated by the conservatives. The latter say the former don't pay any taxes, but they don't say it's federal taxes. If you look at other taxes (local, real estate, state, etc), the middle class and the poor pay a lot more (as a percentage of their income) than the very rich! Surprise, surprise. And, the gap of wealth is getting bigger in the US. Yeap, that's Obama's socialism at work!