Several days ago, President Obama delivered a speech in which he had kind words for American working families. The Punditsosphere went ga-ga, “Breaking news, the President is a Democrat”. Well, today the Obama plan was announced the new “Democratic” initiative to help the people, “Cut Corporate Taxes!”
Now Corporate taxes as a proportion of Federal revenues have not been so low since the Hoover Administration. Corporate income is at record levels as are Corporate CEO incomes. Indeed, Corporations are sitting on about ONE TRILLION DOLLARS in cash which they have refused to invest in business expansion and have squirreled it away in offshore tax havens. Today, as it is most Corporations don’t pay income tax due to all the credits, deductions and loopholes which have been inserted into the tax code for them.
Yet the great “Liberal” solution to the problems of the day will be to CUT CORPORATE TAXES. With Liberals or Democrats like this, who needs Republicans?
The semi-informed, and well-propagandized, will speedily retort, “Oh, plebian, you don’t understand our wise leader’s finesse, Obama wants to cut corporate taxes and eliminate loopholes so that corporations will actually pay more in taxes”.
Do you really think that the Republican caucus which is so connected to the Super-Rich and Corporate interests that they appear to be a giant human centipede (I don’t have to tell you who is the head) would eliminate any tax loophole. No, the tax cut would be passed and the loopholes retained so that Corporations would benefit even more.
What should be done is to tax Corporation’s wealth as well as income and extend that tax to Corporate holdings in Bermuda and the Bahamas and wherever the Corporateers hide their loot. The Corporate tax rate should be returned to where it was under President Eisenhower. The tax rate that should be cut is that of the workingman and woman. The Income Tax was never intended to be a tax on the meager subsistence of wage-earners it was to be a tax of the superfluous incomes of those gorging themselves on unearned incomes. Furthermore, the Super-Rich should be paying a higher portion of their incomes than working people. Today, those who enjoy unearned incomes from capital gains and dividends pay a lower rate than those scraping by on $ 12 an hour.
As to Obama, let’s stop pretending he is a Democrat. He is not, he is a poseur, he is a hustler. We love him for the the enemies he has made but he is not the friend of the workingman and woman. He is already prepping for his next job which will be on the Corporate Boards.
The cognoscenti would pipe up, “Be practical, compromise is a part of politics”. Yes, compromise is, but compromise is NOT adopting your opponent’s platform. If you don’t get everything you want that’s compromise, if you takeover and advocate the opposition’s policies that’s surrender.
I’ve been an active Democrat longer than Mr Obama. I was attending precinct caucuses and party conventions before Obama was born. Mr Obama is a good communicator, is is stylized and slick, he is shrewd and calculating but one thing he is not. He is not a Democrat.