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Some quick thoughts on the tax bill

Reading the midnight express bill tells you who owns Congress

By: WmCraig (Diary)  |  January 6th, 2013 at 08:06 AM  | 

RESIZE: AAA

The NEA executives would probably have had to pay more in taxes, if the Republicans did nothing after we went over the cliff. The legislators in Washington would have had to pay more in taxes if we did nothing after America went over the fiscal cliff.  I would like to add a  new  bracket category to the rich, middle class and working class.

The Rich income bracket is now defined as paying taxes on earnings of  more than $400,000.00 per year.

The Middle Class income bracket is now defined as paying taxes on earnings capped at $200, 000.00 per year.

The lobbyist & politicians income bracket. It is that area between 200,000 and 400,000 that Obama agreed should get tax breaks because of the important support they give him. Boehner, McConnell and Obama carved out this niche in the income bracket levels for the good of the country I am sure.

The “best we could do” was good because it was the best deal legislators  could work out for themselves. Now lobbyists were not given raises by Obama, like the legislators were, but does anyone think that lobbyists are going to do worse under Obama. It is a boom industry. And it makes sense to lump legislators and lobbyists together because they seem to be two faces of the same creature. Lobbyists spend other peoples money to gain political power but legislators spend other peoples money to gain political power.  Got that?

Closing this deal on New Years day was tantamount to Pelosi passing ObamaCare in the middle of the night so we could read it to see what was in it. Same thing here, the bill is passed now we get to read it. The 112th Congress simply kicked the can down the road, not far, it landed in the lap of the 113th Congress but if I understand this right there are less Republicans so it should be easier for Boehner to get Obama’s way  now. No more need for golf course conferences. With more Democrats he can be more open about his negotiations. Two years from now maybe he might even get to be speaker over a Democrat Congress, especially if he keeps up with this level of work.

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  • commonsenseobserver

    It wasn’t good. It wasn’t even the least bad. It was just the least of the worst.

    There are lots of people other than politicians, lobbyists and other parasites who earn below $400,000, and many others who may earn more, but for whom that amount is still a substantial part of their income. They would have been hurt even worse, with little reward, for parasites are never hit by income tax rate increases, which is why they always cheer them. They’ll always have loopholes, fiscal cliff or not, and, failing those, bigger handouts, happy to let workers and entrepreneurs pay even more while they just take a dime out of their own pockets and get another million dollars in with the other hand from other people’s pockets, directly or indirectly.
    The fiscal cliff was neither a substitute nor an engine for real reform.

    • WmCraig

      No, the fiscal cliff that we did in fact “go over” was not a substitute for real reform. But as has been pointed by Thomas Crown (http://www.redstate.com/thomas/2013/01/02/it-is-time-for-some-honesty/) there is no constituency for cutting spending. Real reform requires that the liberals experience the pain of the decisions they make.I differentiate between liberals, who go along, and progressives who are fanatical in their quest for power. And as long as the Republicans keep administering pain killers to take away the sting of liberal decisions we won’t see an increase in the demand for reform.

      The other thing, is if this was really a good deal, the best we could get, why not let the three day rule apply. The new congress could have voted on it, Boehner is still speaker, the House and oval office haven’t changed. And we could have had a change to comment. It is what they promised isn’t it?