Friday, December 28, 2012

Going Over The Fiscal Cliff “Let It Happen Cappen” And Ten Articles In Support

Going Over The Fiscal Cliff “Let It Happen Cappen” And Ten Articles In Support

Hello dear friends,

The Republicans will never go along with a deal to increase taxes on their wealthy patrons.  President Obama is put in a position of negotiating with himself. He can only offer up larger pieces of the social safety net while exempting higher incomes from the expiring bush tax cuts. It is for that reason that I say let it happen Mr. President. The Republicans are willing to hold the economy hostage if they don’t get their way. All the leverage that the Republicans have is the perceived need make a deal to avoid the fiscal cliff. Once we go over the cliff their leverage evaporates.

If we go past January 1st 2013 with out making a deal we will accomplish something we could have never have done within the structure of a deal. That is to get some additional tax revenue from the hyper rich. That is what an overwhelming majority of Americans (seven out of ten) say that they want. That same overwhelming majority does not want cuts to Social Security or Medicare. They want to strengthen those and other programs which build up the middle class. President Obama has a very high approval rating especially compared to the Republican leadership. Simply stated the American people want a shared prosperity. Corporate America wants to increase their bottom line without regard for what is good for ordinary Americans. A radical group of conservatives would like to dismantle Social Security, Medicare and other elements of the social safety net. Look at the fix the debt lobby; they are trying to convince the American people what a bad idea it would be to go over the fiscal cliff. They are peddling a self induced austerity crisis. Believe me the fiscal cliff is a much scarier prospect for them.

Come January 2nd 2013 and no deal; sure the stock market may throw a hissy fit.
Tax rates will go up for everyone. Huge cuts in the military industrial complex will be on the horizon and the debt ceiling will still have to be raised. At this point the pressure will be on the Republicans to mitigate the perceived damage. The pressure will be coming from the upper middle class Republican tax payers and everyone else in the middle brackets. Pressure will come from corporate America to raise the debt ceiling and not tank the economy. Add to that mix the overwhelming majority of Americans who just want a shared prosperity and a chance to make it into or stay in the middle class. The house Republicans will be under extreme pressure to let the American economy get about its business.

Sure the deficit issue is a concern for America. I would question the timing. The Republicans had little concern about the deficit when they rammed thru the Bush tax cuts or when they started two wars of foreign intervention and put them on the national credit card. They weren’t worried about it when they passed the prescription drug benefit (retail), with no effort to negotiate Medicare drug prices. They weren’t worried about it when they supported reckless deregulation of the financial sector leading to a near collapse of the economy. They weren’t worried about it when they bailed out their patrons in the financial sector and left ordinary Americans to twist in the wind, or when they encouraged the off shoring of the American workforce.  Now they would like us to embark on a great crusade of national austerity, austerity for the American people; not for their hyper rich patrons, the defense industry, the medical insurance industry or the ever expanding incarceration industry. Let’s remember that Social Security is a self sustaining program and it is not responsible for the deficit. Let’s also remember that Medicare is far more efficient at dispensing health care to the American people than the private healthcare insurance industry

If we were serious about the deficit may be we should look at inheritance taxation, raising the tax rate on capital gains, a financial transaction tax and a look at the off shoring of corporate profits. Corporate America has managed to buy a disproportionate share of the American politic and to get their way with little regard for the poor, the working class or middle class. After all we are a constitutional democracy where every citizen has one vote.

Here are ten articles which make the intellectual case for calling the bluff of the house Republicans.
Don’t Fear The Fiscal Cliff
Some Democrats Say Drive Over Fiscal Cliff And Then Bargain.
Over The Fiscal Cliff We Go. Playing Taxes Hold’Em ‘GOP Crazies’ Save Progressives From Obama (Again)
Fiscal Cliff Poll: Democrats In 'Strong Position Fiscal Cliff: Lets Call Their Bluff Robert Reich: Obama Has Compromised Too Much on the Fiscal Cliff Sen Sanders: President Obama  Needs to Stand Firm Against Cuts to Social Security Dear Mr. President Stop Compromising and Start Leading Fiscal Cliff Poll What Americans Would Like A Fiscal Cliff Deal To Look Like.

Here are the links to over 500 more Economic Justice Articles

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