Thursday, November 11, 2010

Oops, They Did It Again

"We'll both be in a witness protection program when this is all over, so look us up," says former Wyoming senator Alan Simpson. He refers, of course, to the preliminary report to the bipartisan deficit commission.

But witness protection is far too good for Simpson and co-chair Erskine Bowles: A group of sixth-grade kids working on a class project would use more imagination than this dynamic duo. When all is said and done, their plan is about forcing the middle class to pay to retain the system that got us into this mess. As always, the wealthy win out, giving up a few pennies here and there in exchange for lowering the top marginal rate to 23% and the corporate tax rate to 25%.

What do the rest of us get? For starters, whether you're a man or woman in uniform, a civil servant, a homeowner, or a retiree, you get your pay cut. Most galling are the attacks on Social Security, a solvent and successful program now asked to bear the brunt of the deficit reduction through a combination of reduced benefits and an increased retirement age (which amounts to second benefit cut).

There's no talk about what got us into this mess: Unfunded wars, a massive unfunded entitlement, tax cuts, and a deregulated financial sector. There's no talk of fixing Medicare once and for all by folding it into a better and cheaper national health care plan. There's no talk of revisiting defense policy so that it reflects the 21st Century and not 1962. There's no talk of a creating a financial regulatory structure to prevent future TARPs.

And there's no talk of the Bush tax cuts. It seems to me that if you really and truly believe that the deficit is The Number One Problem Facing The Nation, then you start by rescinding all of the tax cuts. Now, that might be enough to land you in witness protection.

Just a complete, total failure of imagination.


I'll eviscerate the United States Senate tomorrow.

8 comments:

tnlib said...

From what I've seen, no one is happy with it - for differnt reasons of course. Don't think his is going anywhere.

K. said...

It's definitely not going anywhere. But it's not even food for thought. All it does is redraw the battle lines. Although if I were filthy rich, I'd take it and run like a thief. Which I'd be.

tnlib said...

I just put up a petition at my place.

Darlene said...

A third grade student could use more imagination that those toadys. As usual, it's the victims who are asked to pay. The Republicans don't want to cut farm subsidies, earmarks (divided) or giving up the tax cut for the rich. So it won't fly.

I was incensed when the Smithsonian, PBS and the arts were included for less money.

Let them eat cake.

TaraDharma said...

Yep, once again the least well off of us have to pay for the excess of the most wealthy. A horribly researched report -- I'd rather have higher taxes that have the government enact any of this stupid recommendations.

injaynesworld said...

Simpson's ass should never have been on that commission to begin with. If they'd just raise the payroll taxes to include incomes even up to $250,000, Social Security would be fine for generations to come. I'm just glad I can collect early at 62 and hopefully I'll die around 80 when I expect the whole damn country will have been purchased by the Chinese.

Wine. I need wine.

Ima Wizer said...
This comment has been removed by the author.
Ima Wizer said...

What is to become of us? I used to envision the future with a positive attitude, now I can no longer do that.......