Archive for November, 2010

Après Le Deluge

November 4th, 2010 No comments

Après Le Deluge

After the Election, when the Democrats got spanked, the President is holding out the Olive Branch to the Republicans, saying “The American people don’t want us just standing still. They don’t want us engaged in gridlock.” He is even, according to the ©Washington Post₁, willing to dine with them.
Meanwhile, the Republicans are loaded for bear, vowing to undo all legislative achievements of the Administration. They have a hard-on for the Health Care Bill, and anything that would extend unemployment benefits to the 20,000,000 unemployed people in the United States. Am I surprised? Not at all. The Republicans are vengeful when they are in power, spiteful when out of power. They are the Party of “I’m going to keep all my money because I earned it… but don’t forget the Tax Breaks and throw in my Social Security too”. In essence they are cheap hypocritical old coots who complain about Big Government but still take every possible tax break, the Social Security and Medicare payments. They feel they are entitled, but not the poor or the unemployed or the uninsured. They are insured by Medicare, but object to the poor having healthcare. What does “hypocritical” mean? Oh, yeah: “Saying one thing and doing another.”
So it is politics as usual. The Democrats are in power, marginally, but feel put upon because the Republicans aren’t playing “nice.” News Flash: the Republicans will never play “nice.” They will roll out the fear mongering, racism and class warfare whenever it suits their needs. Their needs this November 2nd were to get back in power, and their prerogatives. The Tea Party followers think the Republican Party cares about the Constitution, and the Common Man. What they do care about are extended Tax Cuts on their precious capital gains, continuation of Estate Tax holidays, and continuing wasteful and unpopular wars.

Now we (speaking for Democrats and Liberals) liked Obama because he was truthful, sincere, and wanted to help. Nearly 2 years into the 2nd Depression his TARP handed big checks to the guys who drove it (the Economy, stupid) off the road; his Unemployment Benefits did not help all of the unemployed ( I for one paid into UI but because I am self employed did not qualify for benefits); and the jobs are invisible. Securities and Financial Reform? Toothless and as effective as Sarbanes-Oxley (will make work for CPAs but will not stop collusion & fraud), and it still did not restore confidence.
I still like Obama but what he needs to do is create jobs domestically by changing the Tax Code (no tax breaks for employment abroad) and force the banks to start lending (how about an Excess Profits Tax?). He looks grayer and sadder because the man cares…. But stop trusting the Harvard/Stanford MBAs who learned how to ship millions of jobs abroad, and get the jobs back home. Keep the tax breaks on capital gains for those making less than $250,000. Adjusted Gross Income. Llet the others tax breaks expire and make rich guys finally pay some taxes. The insane argument that low capital gains tax rates help employment is untruthful: the money goes into their bank accounts and does not come out again except to go into their grandkids Trust Funds. I know, I am a Tax accountant. Albeit a poor one.
So, let’s play hard ball with the Republicans and get the unemployed some help, and the jobs back home. No more Mr. Nice Guy, Dear Mister President.

₁Obama invites GOP leaders to White House for bipartisan meeting

Obama: It ‘feels bad’ seeing Democrats lose
President Barack Obama says it feels bad to see his Democratic allies lose their House seat in droves, and makes him question what he could have done differently. (Nov. 3)
By Anne E. Kornblut and Perry Bacon Jr.
Washington Post Staff Writers
Thursday, November 4, 2010; 2:08 PM

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