Monday, December 13, 2010

A Taxing Plan

Obama’s capitulation on tax breaks for the rich has finally gotten some of the mainstream Democrats pissed off to the point where they are articulating sentiments heretofore unheard in the polite company of the two party system. Here’s one unhappy Obama voter: 

“At this point, only 3 kinds of people think their vote counts for anything: 1) the absurdly naive, 2) the authoritarian cheerleader, and 3) the perpetually stupid. Pick your category.”

That bit of cynical wisdom comes from a comment made on responding to an article by former Labor Secretary Robert Reich, which concluded that anyone who still sees government as our last bulwark against privilege and power is aghast at Obama's tax deal.

Nevertheless, the unwashed masses actually support the tax plan, probably because they aren’t mentally tying that 2% payroll tax holiday to the cat food they’re going to be eating when social security goes belly-up. Well, live for the moment has always been the American way.

The government giveth and the government taketh away. Citizens in New York won’t see that much in savings even with the tax cut. The $67 to $178 a month you'll be saving will just go to things like fare hikes and parking meters. One financial planner opined that, "It sounds like you'll be able to live a better life—but when you work it out, it doesn't create any new disposable income." The dirty secret about taxes is that you will never, ever get a real break. The less money the feds have to give to the states, the more local taxes will rise to meet local expenses. It’s a shell game, and you are the nut.

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