Skip to content

Banana Republic

Not the clothing manufacturer…

the United States now arguably has a more unequal distribution of wealth than traditional banana republics like Nicaragua, Venezuela and Guyana.

Let’s just get this straight. Who will really benefit from the tax cuts Republicans are pushing? I’ve got a 1 in a 1000 bet that it won’t be you.

The richest 0.1 percent of taxpayers would get a tax cut of $61,000 from President Obama. They would get $370,000 from Republicans, according to the nonpartisan Tax Policy Center.

So if the average american worker makes $30,000 / year. That $370,000 tax cut would allow the richest 0.1% percent to hire 12 personal assistants! Talk about an economic stimulus! The average income of the richest 0.1%? Nine-million dollars a year.

if Republicans are worried about long-term budget deficits, a reasonable concern, why are they insistent on two steps that nonpartisan economists say would worsen the deficits by more than $800 billion over a decade — cutting taxes for the most opulent, and repealing health care reform? What other programs would they cut to make up the lost $800 billion in revenue?

The quotes are from this article by Nicholas Kristof: Our Banana Republic

Categories: Politics.

Tags: ,

Comment Feed

No Responses (yet)



Some HTML is OK

or, reply to this post via trackback.