Goldilocks said the porridge was “just right.”
President Obama is talking about fair shares of taxation and the Republicans are shouting that he’s engaging in class warfare.
He probably is - I’m sure more of his potential voters next year are not millionaires than are.
And, it strikes me as odd that the Republicans are accusing him of class warfare other than the fact that many of us engage in class envy and class aspiration despite reality that says neither will pan out for most of us.
That said, the GOP is absolutely clear that it will tolerate NO TAX INCREASES! Having drawn that line, the GOP presupposes that the taxes in this country are “just right.” Democrats say that taxes have to be raised – Obama trumpeting more taxes on oil companies, jet owners and millionaires and that will be “just right.”
Says who? Please explain.
But the GOP doesn’t do that beyond repeating the mantra that increasing a tax of any kind will ruin the already near-death economy. Obama proposes band-aid tax increases and building nicer schools and then all will be well.
On Thursday John Boehner said that “[j]ob creators in America are essentially on strike.” And from the evidence, I think he’s right. Corporations have hundreds of billions of dollars sitting on the sidelines and are raking in billions more in profits as I type.
Will Google, Microsoft, all the banks, hedge funds and other industries shut down if their executives get a tax bill that’s a couple of percent higher than it’s been for the last ten years?
Alternatively, maybe we should reduce the marginal tax rate for the richest of us, will that spur the companies they control to hire people?
The answer to each question is no.
That being so, the question isn’t taxes on the rich. The question is indeed class warfare and a refusal on the part of the people on both sides of the aisle to deal with reality.
Left wing Democrats appeal to have-nots. Right wing Republicans appeal to haves and those that think the haves having will help them.
Neither side is willing to even consider addressing the structural problems of our economy for fear of losing the votes of their core voters resulting in classic class warfare.
Obama’s proposal to increase the taxes that millionaires pay will not solve one problem that we have. Boehner’s insistence that millionaires not pay one penny more in tax is equally unavailing.
Money for investment will continue to be on strike until … well isn’t that the question that I see neither Democrats nor Republicans trying to answer. I guess we need a Goldilocks to tell us what is just right and then do it.