Has anyone else noticed that for all the trouble we're in we haven't had much in the way of revenue enhancement proposals? An extra 3% on the richest of us and that's about it. David Brooks is crowing about Obama "prowling around the White House prodding his staff to find budget cuts." What budget cuts? Why, Medicare and SocSec of course. What else?
Everyone is looking at the deficit and screaming about cuts. No one is looking at the deficits and screaming about the need to raise corporate taxes. President Obama did (if you can believe he was serious) make a strong pitch for closing some major loopholes in corporate tax law that would largely make offshore tax shelters pointless, and about time, too. But the BD/GOP Alliance seems to have buried that one under the compost heap in somebody's back yard, probably Barney Frank's.
Given that history - recent history included (Clinton anyone?) - shows that the economy grows when corporate taxes and the minimum wage go up, why aren't both of those the center of the Admin's economic plan? Why are we still talking only in terms of tax cuts and program cuts and budget cuts? Why are we willing to strip seniors of their security to pay off crooked bankers? Why are we still talking about the kind of tax policy that has failed - twice in the last 25 yrs - to create an economy that is good for all sectors of society, not just the rich?
Or did I just answer my own question?
Ronald Reagan isn't dead. He's running Obama's recovery team.
Comments