September 7th, 2011

Since You Asked...

This post was originally supposed to be a response to a friend of a friend on Facebook, but it was too long to post there. Start by reading the graphic, so that what I've posted beside it will make more sense in context.

I'm glad you asked these questions and I will take my time to answer with as much detail as possible so that it may help make it clear what my position is on these matters. The reality of these issues (that squares itself with the facts - not opinions) of what the tea party's collective ideologues wish to pass off as the threats to American society simply don't gel with logic, reason, or fact.

My immediate family consists of myself and my partner and our household income just puts us in the middle class. We are not in any credit debt and only owe a little under half of the total amount for our car. No payments are ever late for any of our bills, we live under a strictly maintained budget that allows for retirement, 401K, health and life insurance premiums, household necessities (groceries, utilities, rent, etc.) and all other necessary fees. My family does not create any drain on the economy and we are responsible for ourselves. We are part of the 95% of Americans that enjoy the tax credit offered by the current administration to all who earn less than $250K annually, which you may well be part of in that income bracket. I won't however ask you the same questions about where your income goes. None of this changes the fact that as American citizens, and as I've mentioned before in the previous comment to Linda's post, taxes are the lowest they’ve been in 60-80 years, far lower than under several Republican presidents. Taxes on dividends and capital gains are far below the level at which they were under President Reagan. Furthermore, 68.3% of the capital gains tax is paid by the richest 1% of Americans which have been allowed nearly a trillion dollars worth of exemptions that would give that 1% the same amount in a tax break while giving that trillion dollar tax burden to the middle class, while the bottom 95% of Americans pay just 10% of them, so it is unclear how tea party darlings like Romney, Bachmann, Palin, Cain, West, Huntsman, and Gingrich think a capital gains tax cut can be fashioned as a middle class tax break. These politicians have said they back getting rid of the capital gains tax, which now has a top rate of 15% for most assets held for more than a year. That position puts them at odds with bipartisan deficit-reduction efforts over the past year that have called for lowering tax rates on ordinary income and taxing capital gains and wage income at the same rates. Bachmann has previously called for cutting the 35% corporate tax rate down to 9%, a move that would cost more than $2 trillion over ten years. This call for reducing or even eliminating corporate taxes comes at a time when corporate after tax profits are the highest they’ve been since 1947. Bachmann also repeatedly called for the elimination of taxes on money that corporations bring to the U.S. from overseas, even though such a move has not worked in the past to spur job creation and would cost about $80 billion over ten years. I'd love to know how the American middle and lower class conservatives can justify such ridiculous nonsense in any way that benefits them. Eliminating taxes on capital gains would widen the federal budget deficit. The current preferential tax rates on capital gains and dividends will result in $84.2 billion in forgone revenue for the Treasury this year, according to the congressional Joint Committee on Taxation.

Given that those who identify as tea party citizens see themselves as being a movement created by the working class that claims to use its voice against the seeming injustice of labor unions and an unfair tax burden, it truly irks me that they fail to accept the reality of what truly built, finances, and controls their movement. In short, self professed tea party 'patriots' are being lied to by the wizard when it's corporate self interests that go completely against their own personal self interests behind the curtain, pulling the strings and pushing all of the buttons in an unbelievable Ponzi scheme. Koch Industries, they of the billionaire oil brothers who are taking advantage of the uninformed nature of outrage among a conservative fringe aligning itself as a grassroots movement, underwrites this entire organization by the billionaires in the Koch network of donors. In documents outlining the June, 2010 donor meeting, billionaires like Paul Singer, Ken Griffin, Rich DeVos, and John Childs are regular attendees of these events, which solicit multi-million donations for an elaborate array of right-wing front groups, from tea party organizers like Americans for Prosperity to stealth advertising campaigns like "Public Notice." Unfortunately, many still report on tea party groups like Americans for Prosperity as bonafide grassroots organizations. That's not grassroots, that's corporations as people masquerading as being truly invested in the working class' best interests. YOU ARE BEING LIED TO. The acceptance of lies as a means of justifying anger over the 2008 election results by conservatives is what I find moronic, just as I find it moronic for liberals to continue burying their heads in sand by supporting candidates and career politicians who are failing them as well.

Collapse )