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Sunday, September 25, 2016

A leading independent financial analyst warned on Tuesday that allowing the president’s payroll tax cut for workers to expire on December 31 might reduce GDP growth by as much as 1.5 percent in the first quarter of next year. And that fits in perfectly with Republican strategy.

Senate Minority Leader Mitch McConnell — who famously intoned last year that making Obama a one-term president was his “single most important political goal along with every active Republican in the country” — seems to be keeping true to his word.

  • freethinker

    Defying logic is the failure of Democrats to find anyway to agree to cutting real spending. No body wants to see their taxes raised, except for a few Democrat billionaires, but at some point, Democrats either have to recognize the reality of the need to cut spending (not just proposed spending) or accept the responsibility for turning the greatest economy ever created into Greece.

  • AnnaSolomon

    Like the benefits packages that the representatives in Congress and the Senate get. Cut government jobs like theirs. I’m sure we could wipe out the deficit if we just cut their salaries and benefits. I don’t remember voting on their pay increases and bebefit programs. They should live like the rest of middle America or gives us the same entitlements they enjoy. Again the Republican hypocracy knows no bounds.

  • littlegal

    Please will a Republican give me a legidimate reason for not taxing the millionaires soley because most of them are in this class. The working people cannot afford to pay more taxes to bail out high corporations to give their CEO’s millions for a failed job. Have they ever been to school??? Talk about other governments milking their people, our government is doing the same. Congress has everything and they make the laws and yet are so crooked that it’s pathetic. If you cut Social Secuirty and Medicare, you will see millions of starving people out there and they the Congress will not be safe, look at what has happened to over governments that have pushed their people to the limits there is rebelion. For cripes sake, when I went to school when you went to congress you worked for the people not the party. US is made up of people, you cannot threaten us with these measures and sit back in your Limo, smoke your cigar with a pretty young thing at your side and expect everything to go smoothly, I guarantee it won’t. Right now if you would get out among the people there is a terrible unrest in this country, Wake up you rich cowards that hide behind Lobbist and make all kinds of secret money and travel, this country is ripe for revolution.

  • doc4cd1

    I donated some money to the Democratic effort to regain control of the House of Representatives last night. I am NOT a Democrat. I think that the Democratic Party has compromised way too much and has NOT gone after the crooks on Wall Street and in the Banking Sector. The phrase “grow a pair” absolutely refers to Democrats in Congress. So why contribute you might ask? The alternative is so frightening that I see no other option. There has been an unrentless shift of wealth from the Middle Class to the wealthy ever since Mr. Reagan lowered their taxes in the 1980’s. Psst…BTW we were a creditor nation before the tax cuts and became a 3 trillion dollar debtor by the end of the Reagan-Bush era. Does anyone remember anything anymore in this country? Clinton RAISED taxes at the start of the longest economic expansion in the HISTORY OF THIS COUNTRY. Left office with a budget SURPLUS and with most pundits talking about paying off the Federal Debt by the end of the decade. Bush the Second gave EVERY PENNY of that surplus away in tax breaks that helped the wealthy much more than the average worker, nominated people to necessary regulatory posts that had no plan whatsoever to regulate, gave BILLIONS to the Military-Industrial Complex for two UNFUNDED wars and ended up having to bail out the Banks at the start of our current DEPRESSION (ask all of the long-term unemployed if they think there has been a recovery). Now, in order to keep Obama a one-term president the Radical Reactionaries have raised their “cut the deficit” battle cry as a smoke screen that allows them to not re-distribute the wealth that their Supply-Side VooDoonomic re-distributed from the Middle Clas to the rich in the first place. The only question left at this time is: Are the American voters misguided enough to be taken in again? So, I donated to the Democratic Party because having the Republicans in power has become the standard for final destruction of the Middle Class in America.

  • mark.mckennon

    Yes, we can cut spending. ALL ACROSS THE BOARD. If we increase revenue. ALL ACROSS THE BOARD. The Pentagon budget can easily lose BILLIONS a year. (Budget? Does that word, which somehow implies frugality and limitations, even really apply? It’s much more like feeding a legion of gluttons. Bloated weapons programs and material procurement costs. Sweetheart boondoggle corruption up the wazoo. More $$$ then the REST OF THE MILITARY PROGRAMS ON EARTH COMBINED!!!) Subsidies to agriculture, big energy, big pharma — BILLIONS a year. What in hell does an industry NETTING MULTIPLE BILLIONS A QUARTER need with our few taxpayer billions? And they pay themselves HUGE BONUSES! WITH OUR MONEY! Same with agriculture — ENOUGH WITH THE CORN ETHANOL SUBSIDIES ALREADY! We jump started an industry, now let them survive or die on their own — unless we truly DO believe in corporate welfare!!!
    There, I bet there’s 50-60+ BILLION IN SAVINGS RIGHT THERE!
    THE CORPORATE JETS TAX WRITE-OFFS – 3+ BILLION
    REFORM THE TAX CODE! Repatriate tens of billions in untaxed off-shore money. Close dozens or HUNDREDS of abused and exploited loopholes. That must surely have the prospects of legitimately and fairly pulling 50-100+ BILLION back into the Treasury. And that’s probably a very conservative number.
    There, that’s coming up on 200 BILLION, more or less. And that’s real money. Use it as a straight paydown on budget deficit principle. See the interest charges shrink. Tell China to take a hike.
    You want to cut Social Security?! OK, means testing. There are all kinds of ways. Those with high net liquid worth. Pensions. Stocks, bonds, 401s. NO COLA for you! And a minimum 10% cut, starting immediately. HEAR THE SENIORS SHRIEK! But why should people pad the coffers when they already have more than enough? … Oh, shut up. There are helpless American children going to bed hungry and their homeless single mothers who can’t get a job. This is the United States of America, not the Unconditional Statutes of Amenities. And you conservative knuckleheads think it’s a good idea to restore the payroll tax?! Get a real job!
    Medicare and Medicaid, and all the for-profit health insurance plans that force taxpayer government to supplement the care given to people! You guys have dickered for so long on electronic medical record data and other means to cut paperwork and time and staff resources! So get to it! Speed it up! Stop yacking and complaining and SHOW US THE MONEY! Gotta be some BILLIONS in there somewhere! WHAT? You complain we spend too much money — so make sure you identify some of the waste so we can save it! WHAT? That means less profit for the stockholders? And lower bonuses? Excuse me while I get my violin. NIMBY, you say? No, that’s not Not In My Backyard. It’s Not In My Billions, Yo! … Yes, reform the tort system — there go the lawyers! — so there are fewer lawsuits when fewer expensive tests are performed on fewer patients!
    The main players of THE SYSTEM — PENTAGON to BIG CORPORATE USA to the TAX SYSTEM to SOCIAL SECURITY to MEDICARE/MEDICAID to PRIVATE HEALTH suck up HUNDREDS OF BILLIONS OF PUBLIC MONEY that’s lost, corrupted, wasted, misspent, overspent and misappropriated! Much of the rest of government expenditures — foreign aid, Dept. of Transportation, Education, etc. — don’t amount to a hill of beans by comparison. You want real savings?
    I haven’t even mentioned increasing taxes on the fat cats. For example, a one-time wealth tax of 5% on the 1 – 2% making the lions’ share of money SOLVES OUR NATIONAL BUDGET PROBLEM IN ONE FELL FREAKING SWOOP! The nation gets solvent in one hurry, and the next year the Bazillionaires will have back all the 5% and then some! But the 1% make money because, in effect, most of us don’t! IT’S A RIGGED GAME, not a NATURAL ONE! There ARE NO LAWS OF ECONOMICS at play that are as remotely inviolable as gravity or weather! They are just laws of who pays the most to get the most favored results!
    It seems the best, or ONLY solution, is to stop picking on the easy-mark public piglets and get on with wrestling the vastly oversized rabid warthogs running around.

  • fonz56

    Keeping the Social Security fractor out of the fraction, its no surprise this nation is and has been operating on empty for a long while. SS to the government is nothing but an open check book. Everyday a new “fatcat” is exposed in Washington. Present candidates running for President to be mention several. Mitt Romney, formerly Indep. later 1993 turned Repub., made Millions when he ran Bain Capital then sold workers down the road at AmPad in Indiana. Reaping huge profits at expense of little guy. Ask Newt Gingrich when/how he became wealthy AFTER leaving Congress but was paid by special interest he control while in Congress. Super wealthy! Is there any wonder why they oppose raising taxes on rich? Thats just two crooks who feed off the poor working class and middle class. Lets take large Corp. Lockheed-Martin, for instance. Large contract with US Gov to provide support in Afghanistan. “Support” being trying to keep Afghanistans attention long enough to help them. Not Martin’s fault because these Afghan’s are not accustom to being told anything or to do anything. If something more important comes up while being taught how to guide a airplane to hanger,,,,,,they go. Or not even show up for a class or session. We (US taxpayer) pay Lockheed big buck basically for being there. No requirements, no goals just be there. Lockheed hires US workers, pays them well and just puts in their contract time. If these large corporations had to follow the rules of OUR education system imposes on vendors or teachers: They would be gone the first month. Its unbelievable what’s been wasted on overseas contractors Answering to no one important. But,,,,,,,,what the heck Congress got their own bank,,,,,,,,,called Social Security!

  • imquiltercb

    I am amazed at all of the good ideas that are coming from our citizens. If we can think of all of these ways to save money and restore equity, why can’t Congress. I want all of you who have such good ideas to think about entering the fray yourselves or make sure you find a candidate you like and get to work for them – on the national, state and local level. I think neither party has all the answers, but like doc4cd1, I am working for the Democrats. Until the Occupy and Dream movements beome powerful enough to field candidates, I think the Dems are our only possible hope. Lets get Obama back and give him the Congress he needs to get things done.

  • engjimeer

    We really don’t need Congress. There are going to sit on their hands until this country starts rioting like we haven’t seen since the sixties….or worse. No decisions or actions will be needed until the tax issue comes time to decide. Maybe they could understand the 99% if they were laid off (that is what corporate america would do to their employees who don’t have any more work)and had to live on minimal unemployment. That would save us taxpayers 75 million over the next year.

  • merman

    Marijuana is the number one agricultural crop sold in the US. I don’t smoke it – I gave it up 35 years ago – but Legalizing it will generate billions in additional tax revenues per year AND put many illegal drug pushers and drug traffickers out of business.

    Second, continuing to pull us out of overseas wars in Iraq and Afganistan will continue to reduce our expenses from 1 trillion per year downward. We still need to fight terrorists but let’s spend our money more wisely and more targeted to get the most impact. We have gotten little payback for our 1 trillion per year investments there except increasing our national debt to foreign countries.

    Doing those two things plus eliminating tax loopholes and tax credits to those that no longer need them – big oil, big banks should allow the US to keep all tax reductions in place for all in every tax bracket. Just imagine, the D’s and R’s would not have the most important issue facing the country to fight over.