Here we fucking go again:
Throughout the fiscal cliff negotiations Republicans have insisted on preserving tax cuts for the richest 2 percent of Americans, but have dogmatically opposed maintaing a payroll tax holiday that disproportionately benefits the middle class. Payroll taxes fall harder on those lower down the income ladder and economists believe that allowing 2011′s 2-percent decrease to expire could undermine economic growth, while permitting the top rates to go up would have only minimal impact.
On Tuesday morning, during an appearance on SiriusXM’s POTUS Politics, Rep. Tom Price (R-GA) argued that raising marginal rates on the very rich would slow-down job creation but insisted that the nation’s debt problem requires the government to allow the payroll tax holiday to expire. Price said that individuals — presumably those who benefit most from the holiday — must feel “more pain” to help set the country on a sound fiscal footing:
TIM FARLEY (HOST): The payroll tax holiday is likely going away. People will likely get that increase in the deduction from your pay as of January 15, you’ll see your first paycheck, 2 percent will be gone. And I wonder if, even if you come to a solution…people are going to look at their paychecks and say, ‘I thought we solved this and look at all this money being taken out of my paycheck.
PRICE: Well, remember, step back and recognize that we’ve had four straight years of trillion dollar plus deficits, we’re $16 trillion plus dollars in debt. This doesn’t get fixed without some pain for everybody…The remarkable challenge that we have requires more work and more diligence and more pain for more individuals.
"More work and more pain for more individuals."
Care to make a wager with The ol' Gadfly as to who these "individuals" that the esteemed Republican Congressman is referring to are?
Oh Jeebus F*cking Kripes. The Gadfly is just dog tired of debunking that hoary old lie - the one that hysterically claims that slightly raising the marginal tax rate on the extremely wealthy stifles job growth. Bill Clinton did just that - raising it to 39.6% and the result was this country experienced the most prosperous economy and explosive job growth in history. That is undeniable fact.
Frankly what is behind GOP Rep. Price's statement is that it is quite apparent that the GOP is still in the thrall of the Tea Party and by virtue of such, as it pertains to the on-going "fiscal cliff" negotiations with Obama, seemingly don't mind causing taxes to be unnecessarily increased on the middle class, defense spending drastically slashed, and social services like SS and Medicare to be decimated --- all just so they can save some gazillionaires the heartbreaking misery of not being able purchase that new mansion with a car elevator or that new battleship sized yacht with it's own helicopter and helipad.
But you know how The Gadfly feels about this? If political suicide is the way the GOP wants to go - The Gadfly is all for it at this point. It is obvious that they have learned absolutely nothing from the ass kicking they and Thurston Howell II took in this last election. They just simply are, at this juncture, willingly intransigent, selfish, greedy, craven bastards and there truly is no hope for them that The Gadfly can foresee. So pass the popcorn and Achtung baby!
----TFG
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