Superfraud - Krugman

[Derechos]

It’s a bird! It’s a plane! It’s a turkey!

I thought I had worked out all the worst-case scenarios for the supercommittee (there was never a best-case). But this is even worse than my worst imagining: a deal to undermine key social insurance programs in return for a promise that Congress will come up with a plan for raising revenue at some future date. If you think that promise has any credibility whatsoever – if you have any doubts that the end result would be to gut Social Security and actually cut taxes for the wealthy – I have this Nigerian bank account that can be yours if you send me $100,000 in expenses.

The worst of it is that Democrats might actually go for it.

http://krugman.blogs.nytimes.com/2011/11/14/superfraud/

[xchrom]

1. might? nt

[nc4bo]

3. Table is set, the good silverware and linen napkins in place, crystal goblets and fine wine...

Then they'll stab it with their steely knives..........

[Vincardog]

2. I say raise TAXES first. Then we can see what cuts we need starting with the Military

[txlibdem]

4. I think that's the underlying cause of these OCCUPY movements: the politicos aren't listening to us

They don't give a rat's a$$ what you or I want. They have an agenda to raid the safety nets for you and your children and grandchildren so the rich don't have to pay any taxes. Oligarchy wins every time.

We need to ramp up the numbers of people in the Occupy marches and give these crooks and liars the truth: WE OUTNUMBER YOU AND YOU *will* DO WHAT IS RIGHT FOR US, NOT THE RICH. One way or another.

[PETRUS]

6. Returning military spending to pre 9/11 levels as a % of GDP

...would cover all of the savings the supercommittee is tasked with finding (and then some). A 10% tax increase on the top 1% would also cover everything. A 5% wealth tax on the very richest Americans (net worth exceeding $30 million) - a group representing 1 in 5,000 citizens - would also cover everything. Also, if we moved away from our very expensive private, for profit health care system (which has us spending twice as much per capita as other developed nations while delivering substandard results) all of the projected future budget deficits would become surpluses.

But apparently our representatives are still hell bent on pandering to the 1% and selling lies to the general public.

[Fumesucker]

10. Our representatives are for the most part members of the 1%.. n/t

[PETRUS]

11. So true.

[slipslidingaway]

5. Deficit Panel Seeks to Defer Details on Raising Taxes

This is the article Krugman links to

http://www.nytimes.com/2011/11/14/us/politics/panel-seeks-way-to-reach-a-deal-on-tax-increase.html?_r=1&hp

"With a little over a week left to reach a deal, members of the Congressional deficit reduction panel are looking for an escape hatch that would let them strike an accord on revenue levels but delay until next year tough decisions about exactly how to raise taxes.

...If the deficit panel can reach an agreement, lawmakers said, it may raise some revenue — a down payment — and create expedited procedures for Congress to vote next year on tax legislation raising more. If the panel cannot reach agreement, it could still provide directions to the regular standing committees about how to raise revenue while overhauling the tax code for individuals and corporations.

...Democrats want much more revenue — at least $1 trillion over 10 years. Moreover, they said the Republican plan would provide a windfall to the most affluent households, by permanently reducing the top tax rate to 28 percent. The top rate, now 35 percent, is scheduled to revert to 39.6 percent in 2013, with expiration of the so-called Bush-era tax cuts enacted in 2001 and 2003.


...Senator Joseph I. Lieberman, independent of Connecticut, summed up the current situation:

“In the last week, each side has busted through a wall. Democrats are talking about entitlement reform, curbing the increase in spending on mandatory programs like Medicare. Republicans have broken through the wall on tax revenue increases. Now they have to figure out if they can meet each other somewhere in the middle.”

[Frustratedlady]

7. I have never seen such a dysfunctional group as this Congress is.

By the time they get done with the design, we won't even recognize this "made by committee" turkey.

It can't be that hard to do.

[woo me with science]

8. Oh, they are perfectly functional.

These "negotiations" have been nothing but theater. They are accomplishing exactly what they set out to accomplish.

1. Cuts to the social safety net and vital programs.
2. Defense of tax cuts for the wealthy.
3. Defense of the military industrial complex.

We knew what the outcome would be before they even started. We are ruled by the "Democratic" and Republican wings of the Corporate Party now.

[Marr]

12. Exactly. The only thing that's changed in recent years is

that the theater has become less and less convincing. With our massive wealth disparities and widespread poverty and joblessness, it's become impossible for anyone with two brain cells to rub together to swallow this garbage.

[dreamnightwind]

14. It's only disfunctional for the 99%

It's functioning just as the 1% intend for it to.

[riderinthestorm]

9. Back to the top! Kick nt

[woo me with science]

13. K&R The differences between the two branches of the Corporate Party are theatrical

and manipulative.