Richies keep tax breaks - unemployment bone thrown
President Obama was ridden hard and put away wet in the fight over the Bush tax breaks. Word tonight is that the President agreed to a two year extension for everybody including the richest folks. In exchange he got a 13 month extension of unemployment benefits (that the Republicans will brag about too), a partial payroll tax holiday (ditto) and some miscellaneous stuff to junk up the tax code. There's nothing to help the deficit and nothing to get us on a firmer footing over the long term. In other words, the President punted. Really, this isn't even a punt, it's more like a Garo Yepremian pass.
Why is it important? Just the tax cut for those earning over $250,000 per year accounts for a loss of $60 billion in revenue. Per the New York Times, that's enough to pay for free college including room and board for half of the 2 and 4 year college students in the United States. It's enough for universal preschool for 3 and 4 year old children and a lot more. Check out the NYT article.
So now it's time for the marginally relevant video of the day. In the spirit of President Obama's Let's Make a Deal. Here is an assortment of similar deals from my old role model, Monte Hall. (If only I had his fashion sense.)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.