Monday, September 12, 2011

Can President Obama flog the economy into submission before job-killing dynamo President Willard Inc. gets his grubby mitts on it?

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Say, didn't this guy used to be What's-His-Name?

"Man, all those other jerkwads, they're all scary crazy."
-- what lapsed GOP prexy candidate What's-His-Name tactfully refrained from saying in his endorsement of Willard Inc.

by Ken

For days now, ever since the president gave his big jobs speech, I've been scouring the news for word of passage of his big jobs bill, the one he said it was so important to pass right away. Now I find out that he was only just today sending the damned bill to Congress, which means it's highly unlikely that it'll be passed before tomorrow.

What's everyone waiting for? Don't they understand how urgent this is? Hey, there are a lot of rich and superrich people (it takes a lot of people to make up that Top Two Percent) waiting -- not all that patiently -- for their next windfall.

Among those who are waiting with a certain amount of dread for the other budgetary shoe to drop is The American Prospect's "Balance Sheet:


THE DEFICIT IS A CRUEL MISTRESS

Today, President Obama will send his new jobs plan to Congress -- a key step in remedying relations between the president and the left-wing of his base. But we're still waiting for one more proposal from the president, and this one could alienate liberal Democrats all over again. A week from today, Obama has promised a plan on how to pay for his $447 billion jobs proposal.

If addressing jobs and unemployment are Obama's best way to shore up his base, then addressing the deficit is Obama's way to reach out to independents and curb criticism from the right. One way to bring in more revenue from the wealthiest Americans is to raise the capital gains tax rate. In fact, some members of the Super Committee tasked with coming up with a deficit-reduction plan want capital gains to be on the table. But as the Washington Post points out this morning, both parties have been active in lowering capital gains rates over the last two years and making sure they stay low. A second source of revenue progressives would welcome is taxes on the over $1 trillion in revenue American corporations are currently holding overseas, hoping to bring back to the U.S. at a highly discounted tax rate. But as The Wall Street Journal reports today, the Obama administration is leaning towards giving corporations a big tax break on their overseas profits.

Both capital gains and repatriation taxes were a big part of Mitt Romney's jobs plan and will undoubtedly be pushed on the 2012 campaign trail. Obama may try to beat them to it. That could be good politics but is certainly bad policy.

AND SPEAKING OF WILLARD INC.

Ya pays yer money, ya takes yer choice.

The unstoppable juggernaut that is Willard's presidential campaign has presumably gained even more momentum from the endorsement of the lapsed GOP presidential contender known variously as "T-Paw" and "Huh, who?" (who tactfully stopped short of saying out loud, "Man, all those other jerkwads, they're all scary crazy"). I'm still tickled beyond words at the news in Howie's post yesterday that Willard has come out of the corporate closet and officially dubbed himself "Romney for President Inc." Willard Romney Inc. As I wrote in the comment I added, "From now on he's no longer just plain Willard to me, he's Willard Inc."

It'll be a grand moment, Inauguration Day 2013, as Chief Justice "Smirking John" Roberts administers the oath of office and the inauguree repeats: "I, Willard Romney Inc., do solemnly swear . . . ."

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1 Comments:

At 7:49 PM, Anonymous me said...

Obama will send his new jobs plan to Congress -- a key step in remedying relations between the president and the left-wing of his base

What a load of crap. I think that phony-baloney "jobs" bill SUCKS. What it really is, is a "kill Social Security" bill.

What we NEED is a tax rise on the wealthy, and our economy will NEVER get better until we get it.

But O'Bummer is still "fighting" (ha ha) the republicans on their playing field, still on the tax-cut bandwagon that has been bankrupting the US for decades.

 

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