Wednesday, January 25, 2012

@SenatorBurr - Gotta love that Bruce Bartlett, he's one funny Republican

Was reading this article in Rolling Stone and came across this line from Bruce Bartlett that had me rolling in the floor,  laughing:  "Taxes are ridiculously low!" says Bruce Bartlett, an architect of Reagan's 1981 tax cut. "And yet the mantra of the Republican Party is 'Tax cuts raise growth.' So – where's the fucking growth?"

I think this says it all:

All the growth is in the wealth of the small minority of rich Republicans pulling the strings. Yes, Bruce, the 400 highest paid Americans made an AVERAGE of $270 Million in the latest reported period.  They paid taxes at an average of only 18.1%.   Over 1/3rd of those 400 paid less than 15%.  The one that grates on me the most?  There were over 25 hedge fund managers last year who made over $1 Billion each.  They do the same damn thing I do,  speculate in securities.  I can sell that same damn stock and book the same damn gain,  but the carried interest rules, protected by Republicans, allows these Billionaires to pay taxes that are 50% less than me.  Yep,  the growth is in the wealth of the protected class,  protected by Republican politicians.

The sweet deal for the rich contrasts with what happens to everyone else.  Almost every middle class American household making between $200 K and $1 M winds up trapped in AMT and paying 22 - 24%, significantly higher than the super wealthy.  And the average American household makes only $54,283, the same damn thing in 2009 that they made in 1997.  You can bet that gas, groceries, health care,  and education don't cost the same, eh?

Yes, Bruce.  I am laughing my ass off at the typical, poor American schmuck faced with flat income but rising costs,  paying more taxes than Mitt,  firm in their ridiculous belief that Obama is a raging socialist,  and stupidly voting nothing but a straight Republican ticket .... so the super wealthy can keep on taking, taking, taking ... while the rest of America suffers.  We live in a nation full of naive schmucks.

Funny stuff,  huh?

No, no so funny after all.

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