Let’s be clear about this, the Republicans and the Tea Party – THE KNOW NOTHINGS, want to hold the debt ceiling hostage until the Democrats give in on the Ryan Medicare cuts. Back in the day they would not call it legislating they would call it blackmail. Since when does the Constitution suggest that if you don’t get your own way you bring the country to the brink of financial ruin. I also know that they have been selling the theory that if the debt ceiling is not raised it won’t make a hill of beans worth of difference. Life will go on and nothing will happen to precipitate a financial catastrophe. That sort of reasoning puts you and me in real danger because the full faith and credit of the US is at stake. Now don’t get me wrong I understand that we have to do something about the massive debt the Republicans have run up. What puzzles me is why now, the Bush administration was running up massive debts to the tune of five trillion dollars in eight years. Were the Republicans worried about it when they were in charge and running up huge costs for both wars, as well of the prescription drug program without paying for them? Where were the Tea Party and all the rest of the right wing talking heads when this problem was created? Do you get the feeling that they are using this debt problem to get their own way and do great harm to the economy just so they can win the 2012 election? No party would be that cynical or would they?
Just a little information to show you how misinformed these right wingers are: the scream for lower taxes is a bogus one. Taxes today are comparable to the taxes paid in 1950--so much for over taxing by the federal government. The real culprit that these watch dogs conveniently miss are state taxes. With the shift in revenue from the federal government, states are being burdened more and more with programs they cannot pay for. The real problem is revenue fairness. Some states such as Oklahoma, Mississippi, Alabama, Texas, are getting a much higher share of the federal tax dollar than they contribute, making it much harder for states in the northeast to make ends meet. They would have you believe that the less taxes we pay the more dollars come into the state and federal treasuries. How absurd. This is the Ronald Reagan theory – it’s kind of the same thing as weaving straw into gold –it ain’t possible. Even David Stockman, the architect of the trickle down theory, has discredited it. We need to put taxes on the table and take Medicare and Medicaid and Social Security off the table. Raise taxes on the rich who haven’t paid their fair share since Bill Clinton was President.
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