Wednesday, December 1, 2010

Obama's Austerity Commission Releases Plan

Details here. Nothing in it is surprising. Basically they want to slash taxes for the richest Americans while forcing the rest of us to work longer, retire later, and accept other punishing cuts to social services. This is the same kind of top-down garbage that has incited mass protests all over Europe.

Those fuckers want to lower the top marginal tax rate even lower than Bush did. In other words, they want it lower than it has been in more than a 100 years:
The top tax rate is currently 35 percent and is scheduled to rise to 39.6 percent in 2011. The commission would cut that rate to between 23 and 28 percent, while shaving between seven and nine points off the corporate rate.
You've got to be fucking kidding me. How, in the midst of the worst recession and budget crisis since the Great Depression, can it really be a serious proposal to reduce the already criminally low tax rates for the very richest?

Increasing the top marginal rate is the easiest way to bring in more revenue to offset the shortfalls caused by the crisis. It's money that is sitting idle in massive surpluses hoarded by individuals who, all by themselves, possess more than millions of Americans grouped together. It is obvious that the top marginal rate should be increased substantially, the only question is how much. But that's not even on the table: now the discussion is going to center on how much extra money to throw at the rich while we slash services for the vast majority.

For the rich and powerful, it is nothing but gifts, free credit, bonuses, and increased "swagger".

For the rest of us, it is layoffs, cuts in transportation, school closings, increased retirement ages, pay cuts, foreclosures and evictions.

The stupid report is titled "The Moment of Truth". Moment of truth my ass. We have the resources to expand services radically... there is no reason that anything needs to be cut, unless we play by the lopsided ruling-class logic that animates Republicans and Democrats alike. This is a lopsided class war against the majority of us.

As a slogan on a placard (being held up in the struggle in the UK) put it: Fight for Every Job! Resist Every Cut! Put People Before Profit!

No comments: