Business Magazine

Which Way Wednesday – Republicans and Democrats Both Want to Kill You!

Posted on the 21 March 2012 by Phil's Stock World

Robert Reich points out that, in announcing the Republicans’ new budget and tax plan Tuesday, House Budget Committee Chairman Paul Ryan said “We are sharpening the contrast between the path that we’re proposing and the path of debt and decline the president has placed us upon.”  But the plan doesn’t do much to reduce the debt. Even by its own estimate the deficit would drop to $166 billion in 2018 and then begin growing again.

The real contrast is over what the plan does for the rich and what it does to everyone else. It reduces the top individual and corporate tax rates to 25 percent. This would give the wealthiest Americans an average tax cut of at least $150,000 a year.  The money would come out of programs for the elderly, lower-middle families, and the poor.  "So what’s the guiding principle here?" asks Reich.  "Pure social Darwinism. Reward the rich and cut off the help to anyone who needs it.

Most Americans who do have jobs continue to lose ground. New research by professors Emmanual Saez and Thomas Pikkety show that the average adjusted gross income of the bottom 90 percent was $29,840 in 2010 — down $127 from 2009, down $4,842 from 2000, and just slightly more than $29,448 in 1966 (all figures adjusted for inflation).  Ryan says too many Americans rely on government benefits. “We don’t want to turn the safety net into a hammock that lulls able-bodied people into lives of dependency.”

Which Way Wednesday – Republicans and Democrats Both Want to Kill You!

Well, I have new for Paul Ryan, says Robert Reich:  Almost 23 million able-bodied people still can’t find work. They’re not being lulled into dependency. They and their families need help. Even if the economy continues to generate new jobs at the rate it’s been going the last three months, we wouldn’t see normal rates of unemployment until 2017.  

I wish I could tell you that Ryan's Republicans made the most disturbing statement I've heard from Government officials recently – but they didn't.  That honor goes to Obama's Attorney General, Eric Holder, who gave a lecture at Northwestern University outlining his three-part test for determining when it's "OK" to execute a US citizen without a trial.  Steve Colbert explains it nicely:  

The Colbert Report
Get More: Colbert Report Full Episodes,Political Humor &



You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Which Way Wednesday

    What a day yesterday. The Dow dropped over 100 points from the open but then, at 2 pm, a miracle occurred and we recovered almost all of our losses in just 30... Read more

    The 05 September 2012 by   Phil's Stock World
    BUSINESS, ECONOMICS
  • Wrong-Way Wednesday – No QE3 For You!

    Ironically, some of the "news" outlets that generally carry my articles (who's names shall be protected because they are wimps) decided it was too... Read more

    The 14 March 2012 by   Phil's Stock World
    BUSINESS, ECONOMICS
  • Which Way Wednesday – $3.5Tn Not Enough to Prop up Markets?

    Wasn't it just 2 days ago that the EU was all set to pop the ESM to $1.25Tn and the IMF was going to add another Trillion and the Fed was talking about more QE... Read more

    The 28 March 2012 by   Phil's Stock World
    BUSINESS, ECONOMICS
  • Which Way Wednesday – 50 DMAs Face Tough Tests

    Who said investing is hard? 4 of our 5 major indexes fall in synch and stop dead at the 50 day moving average that we've been watching on our Big Chart for... Read more

    The 11 July 2012 by   Phil's Stock World
    BUSINESS, ECONOMICS
  • Which Way Wednesday – Will Ben Blow It?

    We are at a serious inflection point!   As you can see from Springheel Jack's chart of the S&P, we've fallen out of that uptrending range and tested ou... Read more

    The 25 January 2012 by   Phil's Stock World
    BUSINESS, ECONOMICS
  • Which Way Wednesday – Beige Book Boogie

    “We have reached a profound point in economic history where the truth is unpalatable to the political class — and that truth is that the scale and magnitude of... Read more

    The 18 July 2012 by   Phil's Stock World
    BUSINESS, ECONOMICS, WEATHER
  • Which Way Wednesday – Popping Or Topping (again)?

    At 1am, in Member Chat, we were discussing why the market was selling off 1% but by 5am, we had rallied the Futures back above yesterday’s close causing me to... Read more

    The 16 November 2011 by   Phil's Stock World
    BUSINESS, ECONOMICS

Add a comment