Wednesday, July 31, 2013
This Time,It’s Different
It’s true. President Obama is roaming the country singing the same song, but he’s hoping that a few Republicans will hear a verse they like, such as corporate tax cuts. The title of the song might as well be “This time ,it’s different” because the obstructionist party is not listening.
I think Chris Haynes is right, progressives are glad that the GOP is not taking the president’s deal. The last time we passed legislation to give corporations a tax break on their foreign profits,they used the money to buy back their stock and cut 20,000 jobs to boot. A prominent tax attorney, Clay Johnson, said that the new low tax rate would be the new highest tax rate the corporations will ever pay. The corporate tax rate is 35% but the average effective rate they pay, comes out to 12.5%. A car dealer is not going to hire a new salesperson because they got a tax cut. I’m not against a corporate tax rate cut but I would put it under recapture rules to ensure that corporations hired a certain amount of employees at a livable wage with benefits.
I’m sure there’s a word or term for educated people who make ignorant statements but I can’t think of one right now. Senator Mike Lee echoed the Obamacare sentiments of his colleagues ,Ted Cruz,Rand Paul and Marco Rubio when he said “Defund it, or own it. If you fund it, you're for it." He might as well have said that for Social Security or Medicare because the Affordable Care Act is the law and is now considered an entitlement. Congress cannot defund major portions of the law without a 2/3 majority and a president’s signature. Those individuals can shut down the government but it won’t make them anymore principled;it just makes them stupid and badly uninformed. It’s not even a good bluff.
It turned my stomach to hear that Halliburton got away with a $200,00 fine for admitting to destroying evidence in the BP spill fiasco, but the culprit didn’t go to jail. I’m not surprised because the Dallas fed is now reporting that 2008 financial crisis cost was $14 trillion, and not one CEO has been perp walked.
I just can’t seem to get away from the injustice that’s being displayed every day. Have you tried to watch a major-league baseball game lately? ESPN devoted several innings on three separate games talking about Alex Rodriquez and his possible lifetime ban for using performance-enhancement drugs. Major League baseball knows of at least 100 ball players who they suspect, but they will only ban eight players or so, within the next two weeks. Want to clean up baseball? Ban all 100 for 50 games or more and start off fresh.