Fat Cats Vs. Dreamers, Who Should Win?
Senator Harry Reid has filed for cloture for the Dream Act and a vote is scheduled for Saturday. As millionaires wait for yet another unfunded tax cut, immigrant youth wait to see if they get to taste the American Dream.
The battle lines are clearly defined. Should the US Senate hold out for a tax cut which will put unfunded tax dollars in the pockets of millionaires? Or should they finally break ranks and vote for a measure which will help someone else besides the wealthy law makers and those who fund their elections?
Earlier this month, the Senate passed a “No Vote Pact” in which the senators agreed to refuse to vote on any legislation which does not address primarily their unfunded tax cut.
This tax cut came from the trickle down economic theory in which it was postulated, if the wealthy have more they will spend more and the middle class and the poor will benefit as the money "trickles down" the ladder of spending. Instead of spending more, the wealthy “invested” the money mostly in the stock market, losing billions of dollars. Instead of “trickling down” the money “evaporated away”.
Now, the Republicans insist on continued unfunded tax cuts for incomes from $250,000 to $1,000,000. Congress has already decided to support tax cuts for the middle class during the recession. Even though the super-rich would benefit along with everyone else with a $250,000 tax cut, that is not enough. They insist on getting additional breaks above the $250,000 mark.
Worse, they insist they jam their personal coffers before any other legislation is passed. They are like fat pigs who sate themselves to the point of vomiting. When they can jam no more into their gorged stomachs, when their over-indulged diet is flowing out of all of their orifices, then they will allow those who are starving to come to the table.
The phrase “unfunded tax cuts” is a term of art. Currently, the tax cuts will have to be added to the deficit. However, a concerned congress is set on making "difficult" choices.
Actually, unless the senators hear from you, this is an easy choice. They propose to jam their pockets now, then ask for massive cuts in public benefits. They are talking about raising the minimum age for Social Security, so poor seniors will have to work more years to get the small stipend promised them since youth. They will redefine the standard of health care so life saving transplants will be denied to everyone but millionaires who can pay. The mortgage deduction will be eliminated so the dream of middle-class home ownership becomes difficult. The unfunded tax cuts to the extreme wealthy will be funded on the backs of the middle class and poor people.Continued on the next page