Monday, February 09, 2009
America-Hating RepublicansI was going to put a comment on Bruce's previous post, "Being Thankful For What We Can Get", but the comment got to be so long, I figured I'd better just knuckle down and write a real post. I think we all know what the Republicans are doing here, regarding the stimulus bill. I'm pretty sure that the only way they can gain any ground in the next couple of elections, is if things get seriously bad with the economy. They have nothing to lose, and everything to gain if Obama's economic policy fails. They are chipping away at the effectiveness of the stimulus bill, by cutting the very things that will help the Americans who need it the most. Probably the worst of the cuts was 40 billion that was supposed to go to the states, many of which are verging on insolvency. What good will it do if the states have to raise taxes, while the Federal government reduces them? Why cut 16 billion for school construction? We need new schools, and I can't tell you how many construction workers are applying for jobs as dishwashers. They cut jobs, and then they cut unemployment insurance, and then they cut food stamps. Okay, we already knew that the Republicans hate Americans. But now I have to ask the question.
Do Republicans love power more than they love their country?
No one is sure that the stimulus will work, but we are at the point where it is our last option. The interest rates are already at 0, there is no place lower to go. The TARP bill did nothing for the financial industry, and whatever Geithner and Summers come up with tomorrow, I'm pretty sure it will not help, unless we are willing to seriously regulate, and put the brakes on Cowboy Capitalism. We should surely raise taxes on capital gains, I mean seriously, if you made money last year, instead of losing it like everyone else, you ought to be paying some hefty taxes. You owe it to your country.
Republicans are hiding behind the guise of fiscal conservatism, but it is really just the hatred of the lower classes. I know this because I am a fiscal conservative. The idea of spending and borrowing puts my stomach in knots. But I also believe that those of us who have enough, and have enjoyed the good years of capitalism, have an obligation now to help those Americans who did not. If you're rich, or just middle class like me, you should just shut the F up about tax breaks, and worry about the people who have no jobs. Giving money back to people who need it, and will spend it, is a much better investment than giving it back to people who will stash it away in some tax free investment account, and wait until the economy truly implodes. When the stimulus fails, and the only thing left is private equity, they will scoop up the carcass of America for a song.
It might happen anyway. But if this stimulus is our last chance, then I agree with Paul Krugman.
It needs to be huge.
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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