The Republicans tell us we must renew the Bush tax cuts or jobs will be at risk. I don’t believe them.
The tax cuts are already there and the jobs aren’t returned. And, further, profits are at record highs. Profits are the surplus after the business has done all it wants to do. If these companies thought they could or should invest in manpower, they’d be doing it before offering up profit. But they aren’t. Profits today are made by strict adherence to the maxim of “do more with less.”
And they don't care about the deficit either. You can tell that because they're willing to run it up by $700 billion when it's obvious it will do nothing to create new jobs.
So, no, I don’t believe the cover story offered by the Republicans as flimsy veneer over their transparently greedy rush to further enrich the already-rich during this time of national need and calls for personal sacrifice.
To quote Warren Buffett, “There’s no sacrifice among the rich.”
And yet the Democrats seem to be fumbling around, unable to score this very easy political point, even when 98% of Americans are clearly at risk of being hoodwinked by the greed of the richest 2%. On that point, Rachel Maddow had this powerful advice for President Obama at the end of her show on Monday:
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