After caving like that and continuing the regressive tax structure that has done nothing but drive up deficits and allow the affluent to cash in profits at the expense of employees, I have no choice.
In addition to the failure to let the taxes on the rich rise to the levels that were agreed to when these idiotic tax cuts were passed 7-9 years ago, the Social Security move may be worse. Remember, Social Security takes in more revenues that it spends out now, which "reduces" the current year fiscal deficit, and makes for an "increase" in the Social Security trust fund. Cutting those taxes means that part of these advantages goes away, and speeds up the timetable for when Social Security benefits would have too be reduced or modified in another way.
In ther words, Obama's proposal plays right into the hands of people who want to sell off and cut Social Security by increasing the possibility of a "crisis" in a program that really isn't in danger. How Obama couldn't at least trade keeping the lower Bush tax rates on income for the rich with raising the cap on Social Security taxes to shore it up for another 60 years is beyond me.
Barack, babe, you were amazing a couple of years ago. And you've done some good things in the last 22 months, probably better than a lot of people would lead others to believe. But now the shine's gone off and you've shown who you really are. With that in mind, I think I'm going to explore other politicians...probably for good.
Memo for Feingold, Kohl, Baldwin, and Moore. We are watching, and we will make you pay if you let this bad agreement go through. But if you stop it, we will be in your corner for the rest of your careers, as this will not be forgotten. (well, except for Russ, we'll always be in your corner regardless of what you do, but I'd be surprised if he didn't vote against this tax policy anyway)