POLITICAL observations & opinions

* we will soon see what Congressional Democrats and Republicans do about extending tax cuts for the rich and unemployment benefits for the poor … we will see what kind of country we are going to be … we will see if Barack Obama fails yet again to exercise the presidential leadership he was elected to provide … and, I suspect, those middle and lower income folks who voted Republican tea-party candidates into office will see just how much they acted against their own interests

Posted by Lew Weinstein on November 18, 2010

another chance to lead ... PLEASE DON'T BLOW IT !!!

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update from FIRST READ …

While 66% of voters in the survey say cutting spending was a “major” reason in their support of a candidate in the midterms, a whopping 70% of adults say they are uncomfortable with cuts to Medicare, Social Security, and defense programs — which just happen to be the biggest sources of federal spending. Another 59% say they’re uncomfortable about raising taxes (on gasoline, for example) or changing the tax code (like eliminating deductions on home mortgages) to reduce the deficit. And another 57% are uncomfortable about raising the Social Security retirement age to 69 by 2075 to reduce the deficit.

LMW COMMENT … Americans want everything but are not willing to pay the price. If this continues, we will soon become a second rate nation, and we will deserve it.

******

Nicholas Kristof writes in the NYT (11/17/10) …

  • the wealthiest plutocrats now actually control a greater share of the pie in the United States than in historically unstable countries like Nicaragua, Venezuela and Guyana.
  • The share controlled by the top 1 % in the United States has soared to levels comparable to those in Argentina six decades ago — with 1 % controlling 24 percent of American income in 2007.
  • At a time of such stunning inequality, should Congress put priority on spending $700 billion on extending the Bush tax cuts to those with incomes above $250,000 a year? Or should it extend unemployment benefits for Americans who otherwise will lose them beginning next month?
  • One way to examine that decision is to put aside all ethical considerations and simply look at where tax dollars will do more to stimulate the economy.
    • You get much more bang for the buck putting money in the hands of unemployed people because they will promptly spend it.
      • [LMW: thus putting $$$ back into economic growth and jobs]
    • In contrast, tax cuts for the wealthy are partly saved
      • [LMW: thus taking $$$ out of the economy and not creating jobs]

Read Kristof’s entire column at … http://www.nytimes.com/2010/11/18/opinion/18kristof.html?ref=opinion

LMW COMMENT …

In the next few weeks and months, we will see what Democrats and Republicans do about extending tax cuts for the rich and unemployment benefits for the poor. We will see what kind of country we are going to be. We will see if Barack Obama fails yet again to exercise the presidential leadership he was elected to provide. And, I suspect, those middle and lower income folks who voted Republican tea-party candidates into office will see just how much they acted against their own interests.

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2 Responses to “* we will soon see what Congressional Democrats and Republicans do about extending tax cuts for the rich and unemployment benefits for the poor … we will see what kind of country we are going to be … we will see if Barack Obama fails yet again to exercise the presidential leadership he was elected to provide … and, I suspect, those middle and lower income folks who voted Republican tea-party candidates into office will see just how much they acted against their own interests”

  1. Barbara said

    I feel that the people who elected President Obama need to get off their respective seats and do something meaningful ….. such as VOTE. The election turnouts were terrible.

    I agree that there are many who will not openly voice their feelings about a black president, but those prejudices exist and they coexist with many other prejudices.

    I agree with your comments, and while I greatly admire President Obama’s pragmatic nature, I think it’s time for him to add some drama to Obama.

  2. Karen & Joe said

    I, like you, cannot understand why so many people voted against themselves! But…follow the money! Look who has funded this tea party movement (Koch brothers, etc), thanks to a Supreme Court decision, and you understand. Big money put in opportune places can buy a lot of hate and disruption.
    Obama and his bunch (Emmanuael”s: “f-ing retards” comment about the very people who got Obama in to the WH) have totally disappointed Democrats who hoped for better.
    I see it as the dumbing of America for one. These folks who voted red are the product of our education system. They don’t read, don’t think critically, don’t analyze but prefer to rely on Fox and Limbaugh to educate them. And secondly, but most obvious, many recent voters have been seething about a black man in the WH telling them what to do! We should have let them secede!!
    Karen

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