Obama: Congress Should Act On Tax Cut, Housing

Bowles-Simpson (Catfood Commission) plan cuts Medicare, Medicaid and Social Security (Social Security wasn't even on their plate to be considered) and puts the burden on the poor and middle classes, and lets the rich keep their ill-gotten booty.

France has announced a massive redistributive tax program which would send the top tax rate soaring and increase taxes broadly on the top 10% of society:

French Prime Minister Ayrault has said that nine out of 10 citizens will not see their income taxes rise in the new budget and has confirmed that there is to be a new 75% tax rate for people earning more than 1m euros (£800,000; $1.3m) a year.

The 75% rate would be on income earnings, but there will also be a wealth tax on holdings above 1.31 million euros, and a cap on tax deductions, as well as a reduction on the tax burden at low incomes.

There should be tax HIKES on corporatio­ns and the rich. There should be massive cuts to the military. Banks should be threatened with nationaliz­ation unless they begin lending to small businesses­. There have been more than 3.5 million home foreclosur­es but there are 11 million more in the pipeline — There must be principal write-down­s.

Democratic politician­s should be beating this drum and pushing the People’s Budget instead of working off of a set of corporate lobbyists’ plans. It reduces the deficit by $5.1 trillion and it beats Obama’s AND Republican­s’ plans.

As Krugman has said, the Progressiv­es’ budget:

“balances the budget through higher taxes and defense cuts, plus some tougher bargaining by Medicare (and a public option to reduce the costs of the Affordable Care Act). The proposed tax hikes would fall on higher incomes, raising the cap on payroll taxes (takes care of Social Security’s solvency forever)..­. and unlike the Ryan plan, it actually makes sense.”

But Obama takes solutions that work for the People off the table. Obama kneecaps and handicaps the Democratic voters who put him and Democrats into power. He’s the grifter leading off the second half of the con game, which is to squeeze the rest of the dimes from the poor and middle classes. It began with part 2 of Bush’s Medicare ReformAct of 2003 (high-pric­ed junk health insurance that has no cost controls), continues with more *AFTA treaties (outsourci­ng more Americans’ jobs) and “payroll tax ‘holidays’­” that lead to the end of Social Security.

Read the Article at HuffingtonPost