W.H.Warrick III: The fiscal cliff is a monstrous lie
Published: Monday, December 10, 2012 at 3:14 p.m.
Last Modified: Monday, December 10, 2012 at 3:14 p.m.
The fiscal cliff is a monstrous lie brought to you by the same people who are responsible for the economic collapse and depression of 2008. Think of the street paintings that use simulated 3-D technique that make you feel exactly like you are looking over a cliff or waterfall. That’s what this is.
Millionaire congress people colluding with billionaire banksters and corporate fat cats want to steal the pension funds, Medicare benefits, disability payments, unemployment benefits, food stamp benefits and other safety net funds for tax cuts for millionaires and billionaires and to fund War Forever for Empire. The sum total of these funds is peanuts compared to the corporate welfare payments to big banks, the Military-Industrial Complex, Prison-Industrial Complex, Carbon-Extracting Complex and others sucking on the Nanny-State teat. They claim these miniscule (compared theirs) benefits need to be eliminated because of the deficit.
First of all Social Security and Medicare have nothing to do with the deficit because their funding is separate and people work all their lives to pay for them. The wealthy don’t pay their fair share because they stop contributing to Social Security when wages exceed $109,000. If they continued to pay on all their wages there wouldn’t be any Social Security funding problem. Secondly what we need is a Wall Street Sales Tax. Wall Street pays no taxes on anything while you and I pay sales tax on everything except food and medicine. The 1 percent must be made to pay for their mess. They have been telling us since 1980 that everything would be wonderful if we just gave them these tax breaks, so they robbed the Social Security trust fund for it, and ever since then real wages for the 99 percent have declined. And we now have indefinite and unending economic depression.
The tax base for a Wall Street Sales Tax is in the quadrillions of dollars per year. This would provide many trillions for funding the rebuilding of our rotting infrastructure and would end the current economic depression. There would be plenty of funds for Medicare for all, education (which is the most effective investment we can make), veterans benefits and have a top-rate social safety net, and even a guaranteed national income, which was one of the things on Richard Nixon’s wish-list.
W.H.Warrick III MD,
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