Tuesday, June 15, 2010

Definition of egregious

by Rich Miles

The New York Times today has an editorial that should make your blood boil. It did mine.

I just don't understand the people who not only are able to get away with this, but who actually believe that it's right and proper to do so - who actually believe they are more entitled to these things than the overwhelming majority of the rest of us.

Here's the kicker. Read the whole thing:

"Nonemergency provisions in the (unemployment insurance extension) bill do need to be paid for, including renewal of several generally useful business tax breaks, like the research-and-development tax credit, totaling $32 billion over 10 years. To help cover those costs, Democratic lawmakers in the House and Senate started out with the sound idea to close an egregious tax loophole that allows wealthy fund managers at private equity firms and other investment partnerships to pay a top tax rate of just 15 percent on much of their earnings — versus a top rate of 35 percent for all other higher-income Americans.

Here's my perfectly obvious question: Why do the wealthy get the tax breaks? They've got lots of money. That's why they're known as, you know, the wealthy. They've got a lot of money left over AFTER they pay taxes. Usually more after taxes than the overwhelming majority of us will ever see BEFORE taxes are paid.

So when is this going to stop?

How about a little Bastille-storming? Or the 21st-century equivalent thereof?

1 comment:

Jack Jodell said...

A LOT mof Bastille-storming is in order these days! Were the wealthiest elite to reinvest in domestic companies paying good wages to American workers, that would be one thing. But all these pigs do is acquire other companies, lay off their employees, export jobs, and set up plants overseas or outside our borders, and pay those workers shit wages. Then they have those products exported here for us to buy. Citizens: it is time to resurrect the guillotine: if not for the wealthy elite's heads, then for their wallets, to more fairly distribute income across the board!