On the money.
Fiscal cliff approaching, and no action. One would hope that the notion of its being a financial catastrophe on the order of 2007-8 has been greatly exaggerated, but I would not recommend taking a chance when people are dependent on unemployment benefits and other programs that will come under the knife of sequestration. Boehner and his conference truly are ridiculous. When I think of the extent to which they can get what they want out of this president, I have to think that they are completely out of their collective tree. When all they have to do is accept slightly higher marginal taxes on rich people, you would think this would be a no-brainer for them. (Indeed, this Congress gives a whole new meaning to the term no-brainer.)
But I guess they're willing to go to the mat for millionaires. Otherwise, why would they not simply extend tax cuts to the bottom 98% of taxpayers now, today, then negotiate the rest later? Because we are one of their bargaining chips. I want to make certain that everyone is clear on this point, and on the fact that it is their conviction that we should all pay higher taxes to preserve the privileges of multimillionaires.
That is no exaggeration. The way these people talk, you would think $250K a year is chump change. I understand that the cost of living in many cities is extremely high, but really ... couples making $250,000 would have nothing to lose with Obama's plan; they would pay the same taxes they are paying now. Over that amount would be taxed at a marginally higher rate, but just applied to the amount they make above $250K. And yet they are trying to make those of us who earn substantially less than that (by a decimal point) actually feel sorry for people earning at that level.
Another thing the Congress has done is inflate the notion of what a millionaire is. When I was younger, a millionaire was someone with a million dollars or more. Now it's apparently someone who makes a million or more. Say what? You can conceivably be a millionaire and make less than $50k a year in capital gains (taxed at 18%). If you're making a million or more, you are mega-rich and not worthy of any charity on the part of working people.
Let's see if anything happens between now and Monday. In any case, don't panic. Just call your congressmember and tell him/her that you want them to act now.
luv u,
jp
But I guess they're willing to go to the mat for millionaires. Otherwise, why would they not simply extend tax cuts to the bottom 98% of taxpayers now, today, then negotiate the rest later? Because we are one of their bargaining chips. I want to make certain that everyone is clear on this point, and on the fact that it is their conviction that we should all pay higher taxes to preserve the privileges of multimillionaires. That is no exaggeration. The way these people talk, you would think $250K a year is chump change. I understand that the cost of living in many cities is extremely high, but really ... couples making $250,000 would have nothing to lose with Obama's plan; they would pay the same taxes they are paying now. Over that amount would be taxed at a marginally higher rate, but just applied to the amount they make above $250K. And yet they are trying to make those of us who earn substantially less than that (by a decimal point) actually feel sorry for people earning at that level.
Another thing the Congress has done is inflate the notion of what a millionaire is. When I was younger, a millionaire was someone with a million dollars or more. Now it's apparently someone who makes a million or more. Say what? You can conceivably be a millionaire and make less than $50k a year in capital gains (taxed at 18%). If you're making a million or more, you are mega-rich and not worthy of any charity on the part of working people.
Let's see if anything happens between now and Monday. In any case, don't panic. Just call your congressmember and tell him/her that you want them to act now.
luv u,
jp
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