The wealthy vs. everyone else: Where's the priority?

[cal04]

by Joan McCarter
http://www.dailykos.com/story/2010/9/1/897794/-The-wealthy-vs.-everyone-else:-Wheres-the-priority

Via Ezra, here's another must-see graphic from the CBPP.
http://voices.washingtonpost.com/ezra-klein/2010/08/how_to_fix_social_security_in.html

They write:
By far the most important fiscal decision that Congress will face between now and the end of 2010 is whether to extend the Bush tax cuts that are scheduled to expire at the end of the year. President Obama has proposed to let those cuts expire for Americans making over $250,000 a year. Some legislators have called for extending all of the tax cuts permanently; others have called for extending the high-income tax cuts temporarily on the grounds that they provide economic stimulus, though the Congressional Budget Office ranked this as the least effective of a large number of stimulus proposals. The revenue loss over the next 75 years just from extending the tax cuts for people making over $250,000 — the top 2 percent of Americans — would be about as large as the entire Social Security shortfall over this period (see Figure 1). Members of Congress cannot simultaneously claim that the tax cuts for people at the top are affordable while the Social Security shortfall constitutes a dire fiscal threat.


How to fix Social Security in one graph

By all public accounts, the deficit commission is now focused almost solely on Social Security cuts rather than tax increases--or even ending the Bush tax cuts for the wealthy. Ezra says:

We do have fiscal problems in this country: health care, for instance. We have to get growth in that sector down or we'll bankrupt the country. But that's not the case with Social Security. Social Security is just a question of priorities. And the legislators who are saying that we can extend the Bush tax cuts without offsets but that we need massive benefit cuts in Social Security are showing where their priorities lie, not stating a sad economic reality.

For far too many--and the majority of the catfood commission--Social Security is not a priority. Which means that the middle class isn't a priority.

[dkf]

1. Why are we talking about cutting it permanently?

The proposal as I understand it is an extension for 1 year so we can get a better economic footing.

[Cassandra]

2. Why would extending it for a year give us a better...

economic footing. That's a delaying tactic because the repukes hope to take over Congress (and then they'll make them permanent).

On edit: I don't know if you're referring to SS or the top tax cuts but there's no reason to delay. SS should be left alone now (or the cap raised) and the top tax rates should be raised now (or it may be a while before we get another chance).

[blueworld]

3. As usual, I don't understand why there isn't more confrontation on MSM over these tax cuts

If the tax cuts were so golden, then jobs would have dramatically increased under Dubya & the economy would have thrived. Even a teabagger could understand that didn't happen. Dubya & GOP policies destroyed the economy. Jobs are only beginning to recover because of Obama's stimulus moves. I heard someone on TV say (last nite?) that Obama has created more jobs in his first 16 months than Dubya did during his entire 8 years.

So why is there any pretense in the MSM that allowing the tax cuts to end will destroy job creation???? The wingnuts are still chanting that poor people with mortgages they couldn't afford brought the entire world economy to its knees.

I'm sure it's unrealistic because space is limited what with Lindsay Lohan & Paris Hilton & all - but this close to an election I would like to see every EVERY news program & decent newspaper confront these economic fairy tales head-on at least weekly, on the front page.

[txlibdem]

4. The main stream media is owned by the rich and big corporations

It's no wonder they haven't lifted a finger to call out the lie that tax cuts for the rich could have anything to do with job creation.

Let me spell it out for anyone who just doesn't get it: Trickle Down DOESN'T

[classysassy]

5. The snake oil shills for the wealthy

have sold the big lie to the ill informed via the media which is owned by the wealthy,we the people are told that we own the air ways therefore we are the ones that decide what goes out over our airwaves.If that was truly the case Fox news and their self serving lies would have been shut down years ago,we have been had folks,our politicians have sold us down the river but we continue to send those same crooks back to Washington where they serve the merchants of greed and ignore the wishes of the voters.We do not live in a democracy it is a country owned by the wealthy that caters to their every whim to the detriment of the average citizen.This November the wealthy criminals will probably return their hired guns back to Washington to take over the house the people that control the purse strings and the average person will be in for a bumpy ride for the next two years.Do you realize how much harm the republicans can do in two years?the middle class is the target and they are right on schedule to destroy the middle class,the voters have been sold a pack of lies by the disinformation goons at Fox news and the network of that arch liar Rush Limbaugh,America as we know it is doomed.We have allowed the shills to divide us along racial and gender lines while we stood by and watched from the side lines,well brothers and sisters we will pay for our inactivity.After the destruction of the middle class,the class struggle will begin,we will insist that the borders be closed because we will be fighting for the jobs that the illegals have,we'll be fighting for those low wage jobs.The unions will be a thing of the past,no health care,food prices will escalate and there will be lots of kids going to bed with empty stomaches." Oh what fools we mortal be " Wake up America before its too late.