Dean Baker "Supercommittee of the One Percent Won’t Even Think of Taxing Wall Street"

[in_cog_ni_to]

Just when I think I can't loathe rethugs any more than I already do, they pull shit like this (with the help of the so-called "Dems" on the committee) and my contempt for them is multiplied. They actually have the audacity to do this while the peon 99% are marching in the streets AROUND THE WORLD! This just tells me they believe there's not a damn thing WE THE PEOPLE can do about the power they wield. They are a bunch of arrogant SOBs who will do whatever they want to do to line the pockets of the already OBSCENELY wealthy, with even MORE money.


If anyone still questioned who owns Washington, the congressional supercommittee charged with reducing projected deficits by $1.2 trillion seems determined to end any doubts. According to press accounts, both the Republicans and Democrats on the committee support a plan to reduce average Social Security benefits by 3 percent.

While whacking our parents and grandparents with a big cut in Social Security benefits apparently draws bipartisan support, the supercommittee will not even score a plan to tax Wall Street financial speculation. No committee member from either party is prepared to make a simple request to the Joint Tax Committee of Congress that would allow a speculation tax to be one of the items considered in the mix.

It’s hard to know which part of this picture is worse. The plan to cut Social Security benefits at a time when seniors are more dependent than ever on them is incredibly pernicious. The people who would see their benefits cuts under this proposal paid for their benefits contributing to Social Security over their entire working career.<snip>

<snip>
This contempt for the 99 percent coupled with protection for the 1 percent is the reason Congress has an approval rating of 9 percent. When both parties in Congress work against the interest of the overwhelming majority in order to protect a tiny elite, it is not surprising that most of the country would return the contempt.


Much more at link:
http://www.nationofchange.org/supercommittee-one-percent-won-t-even-think-taxing-wall-street-1320154351

[DrDan]

1. no surpises - this was known when the makeup of the supercommittee was announced

[msongs]

2. prostitutes will not undermine their pimps nt

[Tierra_y_Libertad]

3. Will the new Cat Food Commision tax cat food?

[in_cog_ni_to]

5. The prices and tax on cat food will be tripled. It's that supply and demand thingy.

:(

[banned from Kos]

4. Obama supports ditching the carried interest tax treatment for Wall St

the Dems need to stick with that.

[Marazinia]

6. It's sickening

Social Security isn't enough for most people to live on as it is.

[in_cog_ni_to]

8. Exactly. They know that too. I sometimes wonder if they're aiming for a "Soylent Green"

society. They must have some grand plan. Is this their way of controlling the population? What do they plan on doing with all the people who will be starving and living on the streets? Will they send out the THUG police depts. and have them tear gas and pepper bullet them? Then what? Where do they go? How do they live? What will they eat? There's something insidious going on here.

[gratuitous]

11. No worries there

The New and Improved Catfood Commission has invited Erskine Bowles and Alan Simpson to come testify about how the country is being wrecked by greedy geezers on social security. This testimony will be given great weight, no doubt. Will it be enough to offset the opinion of 2/3 of the country that thinks otherwise? Time will tell. I still don't think they'll be stupid enough to mess with current beneficiaries, but if your prospects for retirement in the next five to ten years depend heavily on those social security payments, well . . .

[yodermon]

7. do not be surprised when mother fuckers do, in fact, fuck their mothers. n/t

[Ship of Fools]

9. As J Morrison ranted -- "they've got the guns, but we've got the numbers..."

but now we have the numbers AND guns -- and most likely the MARINES!!!!... Just sayin.

[Vincardog]

10. an approval rating of 9 percent. How did it get that high?