For those of you who think the fate of the Republic rests on granting more tax breaks to billionaires, review Nicholas Kristof's argument that the Bush tax cuts have made us a banana republic. The Bush tax cuts may have helped us climb out of the recession at the beginning of the decade, but the only trickle-down we've gotten since is the rich elites tinkling on us while hoarding the vast majority of the nation's income gains.
Instead of handing such huge tax breaks to the rich and hoping they'll buy lots of job-creating goods and services (they don't, says the CBO), we should pour our resources into the lower- and middle-income ranks by hiring teachers and ditch-diggers, extending unemployment benefits, and offering job-training programs. Keeping money in regular folks' pockets helps level the income gap, which in turn, says Kristof, would reduce the chances of another financial crisis, protect families from divorce, and maybe even pull us back from political polarization and toward a stronger sense of common national identity and purpose. (Remember, all that head-stomping Tea Party anger rises in some degree from economic anxiety of once-comfy white folks seeing their middle class eroding.)
We can't get Republicans to agree to in-the-trenches solutions to restore the middle class. But we can get the Republicans and Democrats to fall all over each other to hand out money to the folks who already have lots of money. That's the most dangerous redistribution of wealth taking place in our country.
*** A little site news for "Parts is Parts" blog - Along with Dakota Today and a few other blog variants, one my son and I started a few years ago is titled "Parts is Parts" and it concerns vehicle repairs,...
15 hours ago