I slept a little late this morning. What woke me was the news on the radio. Specifically, what woke me was the news, in two closely adjacent pieces, that Congress (1) would not extend the unemployment compensation benefits for the long-term jobless, and (2) that God’s Own Party does want to extend the Bush tax cuts, not only for lower- and middle-income taxpayers, but for those making more than $250K per year. They don’t want to extend unemployment benefits ( which would put a $65B dent in the budget) unless they can be “paid for” by cuts in some other area. They are not the least bit interested in demonstrating how the tax cuts for billionaires (roughly a $700B addition to the deficit) can be “paid for.” With great difficulty I restrained myself from leaping out of bed shouting “this is bullsh*t,” which would have painfully startled Mr. Wired and the cat out of their sound sleep.
Let’s break this down a bit. Those losing their unemployment compensation benefits number roughly 800,000 human beings, most of them with families. The average weekly benefit for each member of this unfortunate group is $300.00. That’s a total annual income of $15,000.00 per person, or more likely, per family. Keeping the Bush tax rates for all taxpayers would mean that the something like 225,000 households in the highest tax bracket (up in the $300,000s per year, or 20 times the average annual unemployment benefit) would be taxed at a maximum marginal rate of 35% instead of 38.6%. Crunch the numbers for yourself.
But, the party of Teddy Roosevelt and Abraham Lincoln tells us, the upper bracket tax cuts are different from the pittance we give unemployed workers. If we give the unemployed their weekly $300.00, they’ll just use it to buy food and pay rent and put gas in their cars so they can keep looking for jobs. If we give the rich more money, they will use it to create jobs. (I love the word “create” in this context. It well-nigh apotheosizes Big Business. One can see Donald Trump leaning out over the heavens, his fingertip outstretched to a Walmart sales clerk… Moro, can you draw this? Anybody else?)
Just as they have created jobs over the 9 years during which the Bush tax cuts have already been in effect, right? The nine years in which corporations have repeatedly demonstrated that they will do almost anything rather than hire American workers to work in the United States at full-time permanent jobs with health insurance and retirement benefits. If the Bush tax cuts had created jobs, there wouldn’t be 800,000 people out of work now for more than a year. Why should we expect the tax cuts to do now what they didn’t do last year or the year before?
And why, pray tell, do we accept the Republican double standard on deficit reduction? That standard dictates that all government spending for ordinary people and their families must be “paid for,” and paid for not by tax increases on anybody else, but by spending cuts on other government services to the same ordinary people. But it also dictates that tax cuts on the richest Americans do not need to be “paid for” at all, because they will by some magical process pay for themselves in jobs to be “created” from the same inanimate matter that used to create organic life in the theories of Aristotle. In short, they would have us keep two sets of books, one for the rich and one for everybody else. Each set must balance within itself, but the two need have no interaction whatever with each other, except across the celestial spark gap (see above) in which the superrich “create” jobs. My father the CPA would be aghast at this maneuver.
But there seems to be a bipartisan push to extend jobless benefits in exchange for extending the Bush tax cuts for even the richest taxpayers, and to hell with the deficit for this week anyway. Republicans and Democrats, the pro-life corporate party and the pro-choice corporate party, shoulder to shoulder against financial sanity.
Well, I gotta go. The sovereign state of Illinois has just passed a bill legitimizing civil unions for same-sex couples. The Catholic Church says this is an assault on the sacred covenant of marriage between a man and a woman, and that means I probably ought to cook dinner for Mr. Wired before our marriage falls apart altogether.