Selfish conservatives: Are all conservatives selfish?
In the last quarter century,
80% of income gains, accrued to the top 1% of individuals.
Right now, conservatives in the U.S. are selfishly attempting to hang on to a record low tax rate. The Republicans claim to be concerned about the deficit and debt, but, thus far, they have been unwilling to pay their fair share to help their country survive a financial crisis.
Today we’re witnessing worldwide financial turmoil. Stock markets are watching billions of dollars in equity disappear, presumably in response to S&P downgrading the USA’s credit rating from AAA rating to an AA+.
Q: Why was the U.S.A.’s credit rating downgraded?
A: Enormous debt and politics
Ronald Reagan increased the debt limit eighteen times, yes, that’s 18 times; back then, there was no fuss. What would have happened if the GOP Republicans had not played their politically-motivated, brinkmanship card this time around?
Did Standard and Poor’s conclude “These selfish folks just don’t get it.”
Spending cuts alone will not get rid of the debt. The US Government needs more revenue. Fortunately, the USA, unlike Greece, is a very wealthy country. The best place to get more revenue is from folks who already earn a lot of money. The George W. Bush tax cuts must be allowed to expire, as was originally legislated.
Addendum: John Boehner, Republican Speaker of the United States House of Representatives, recently stated, “I got 98% of what I wanted” in the Debt Ceiling negotiations. I wonder, did that include the subsequent S&P downgrade and the Dow plunging 630 points today?