One Million Reasons the Millionaire Bailout is a Bad Idea

This post was originally published at Not So Humble. Click here to read the post in its original habitat!

Cracks are starting to show that President Obama and Congressional Democrats may flinch on the issue of the Bush-era tax cuts for the super-wealthy, and let them become permenent instead of allowing them to expire into the nothingness that they should be – they did nothing for the economy when they were passed, despite the loving praise that Republicans lavished on them when they gleefully passed them when they had majorities in the House and the Senate, and Americans didn’t see a single job created thanks to them.

Now, Republicans are claiming that if their best friends don’t get to continue to enjoy the disproportionate tax breaks and the fact that even without them the wealthy have the smallest tax burden they’ve ever had in the United States, second only to the absolute poorest among us, the sky will fall and the economy will grind to a halt.

They may have some leverage there actually – you do have to wonder why so many businesses have decided to only hire very very slowly over the past two years, and why so many businesses are suddenly interested in squeezing as much as they can possibly get from their current employees rather than bring on new ones. Everyone’s trying to hold the government accountable for job growth, but no one seems willing to hold the millionaires and the business owners accountable – the people who are shredding resumes by the thousand. And as illogical as that seems, Tea Party thugs and Republicans of multiple stripes are interested in giving these same people tax breaks, rewarding them for their gross mistreatment of the rest of America.

The folks at MoveOn.org are collecting a list of reasons why the Millionaire tax breaks are a bad idea. I encourage you to submit your own:

< One Million Reasons the Millionaire Bailout is a Bad Idea >
Source: MoveOn.org

http://blogs.alternet.org/notsohumble/2010/11/15/one-million-reasons-the-millionaire-bailout-is-a-bad-idea/