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(image: 401k / flickr)
And while the bulk of the electorate thinks we should increase taxes on the rich, the Republican base is firmly against the idea. According to a new CNN poll, 56 percent of American adults think taxes on the rich should be kept high to pay for government programs. Among Republicans, though, 64 percent think taxes on the rich should be kept low to encourage investment.
I assume the situation is similar with big Republican donors. While there are a few Wall Street CEOs currently giving lip service to the idea of higher taxes on the rich to try to get a grand bargain that contains corporate tax reform, I suspect the vast majority of big Republicans really don’t want to see their taxes increase.
Given that most elected Republicans personally don’t support higher taxes on the rich, their based doesn’t support an increase and their donors don’t want to see their taxes go up, the Republicans in congress have basically no incentive to vote for a tax increase of any kind.
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Let’s hope they stay nuts long enough for the Bush tax cuts to expire.
Obviously, neither does Obama. Obama signed the extension when his base detested the idea. But, by all means let’s keep the debate tribal.
You can’t encourage investment when there is no demand for goods and services. When wealth is hoarded among a tiny portion of the population, there is no demand for goods and services. Republicans can’t understand elementary economics.
In a related story on some especially assholish CEO’s and all this “fiscal cliff” bullshit…
Needz Moar Yachts.
Jefferson warned of corporate aristocrats, corporate shells, monopolies and the threats to life and liberty. Meanwhile America wasted @ $1,101,000,000 after purchasing $1,376,550,000 of gasoline today driving. That’s about $401,865,000,000 in a years time, given a 20% average efficiency rating of the car’s ICE.
The numbers are staggering, making even a stupefied drunken drunk, fall off the bar stool, at the reality of the economic waste, leverage by corporate on this republic.
It might be safe to say many of the elites who refuse to pay increased taxes, benefit greatly from the biggest tax on life, Energy and transportation costs. Now the billionaires in energy after raping this republic, say no to increased taxes? America is getting gang raped, in more ways than one, by those very aristocrats, who shipped jobs overseas and took a tax credits for it.
BTW, do you know how many gallons of diesel fuel where consumed today by diesel trucks? They do a little better than cars, at 40% efficiency at 1800 rpm, but not moving. The efficiency rating falls off a cliff once the trucks actually rolls. BTW 3.5 mile per gallon is the average for the US trucking fleet
Yup Republicans want no increase in taxes while the rest of the republic is essentially in a state of servitude to the energy interests, the GOP represents? These enthroned corporate aristocrats need a whack in the fucking head from Teddy Roosevelt’s big stick and are more deserving of a club in the head, than any baby seal.
http://blog.gaiam.com/quotes/authors/theodore-roosevelt/34997
http://en.wikipedia.org/wiki/Theodore_Roosevelt
http://en.wikipedia.org/wiki/Theodore_Roosevelt
Square deals for Americans today is a fucking illusion with government by plutocracy, while embracing fascist tendencies…..
“It’s my nature.”
/Scorpion to frog
/thread
Thank you, again.
I live in a very red county in CA
Even my very R neighbors tell me this is BS:
and then they say what you said about demand.
Where do the poll numbers come from?
“You can’t encourage investment when there is no demand for goods and services.”
Except when it comes to 4G and the latest wireless tech innovation in communication, to bridge distance, thanks to Nikola Tesla.
http://blog.aviatnetworks.com/2011/07/15/homage-to-nikola-tesla-great-inventor-of-wireless-technology/
Then we send the jobs overseas, so corporations pay workers less and the American worker loses job cause speculation in energy and $147.50 oil drove the cost of living and the cost of doing business through the roof, imploding a housing bubble, forcing corporations to layoff workers. Meanwhile, today those Americans driving to work, doing work, etc.. squandered $1,101,000,000 out the tailpipe after buying 1,376,550,000 worth of gasoline, then being forced to purchase health insurance before you pay your living expenses and food all driven up by the cost of transportation and energy. Forget diesel fuel stats for now!
Nice to see all the fares for Public transportation, increase? Duh!
WTF do Americans have left to spend? The huge sucking sound created by “mud suckers” taking water out of a dug hole for foundation construction, with the sides of the excavation caving in around the workers pouring the footings comes to mind. These fuckers suck the money out of the system, like mud suckers, enable waste and inefficiency and when the walls cave in, well there is no demand, lets say. Except for coffins and undertakers.
America’s jobs have always been created as a result of real needs being met by building, adapting, innovating risk and investment. Today America has no real job creation because the real needs of a nation are not being met, because innovation and adaptations giving Americans greater choice hence value via competition, would upset to many cash cows in America, called monopolies. John D. Rockefeller’s, Standard Oil, is alive and well just under multiple names. Leveraged economic servitude to a business model is tyranny. Thanks to Tesla I don’t need a costly LAN line. A one time monopoly. Now I can face time with friend in Hong Kong, to bridge distance for chump change. To bad we could not apply same logic to transportation. Like that Erie Canal that once reduced transport costs by 95%.
Strange,but I’m thinking gridlock may be our best
friend.
My suspicion has long been that the recession that started in December 2007 was caused when the price of oil spiked that summer from about $80 a barrel to $140. I’ve not seen any analysis to support that though.