Rep. Grayson has a couple ideas for how America’s top one percent can spend their tax cuts.
I see an Hermes bag. But that’s the least of it. They’ll invest it into developing and frontier economies.
They’ll invest it into wealth.
Rich that spend thier income on goods and services aren’t the primary problem… even if those goods and services are relatively wasteful.
An even bigger problem is when that income is directed into speculation which further extracts from the economy.
Either way, yes, Grayson is absolutely 100% correct. A large scale government job program is not only the humane thing to do, it’s also the smart move to make in terms of stabilizing our economy.
Excellent 5 minutes of floor time.
I like the cigar lighter & the trickle down mustard. Also nice that he had a better plan for the money.
How cowardly of Democratic politicians to leave it to an outgoing congressman in this lame duck session to put on this show.
Has anybody seen the Democratic leadership lately? Where is Obama? Where is Harry Reid? Where is Nancy Pelosi? Where is Steny Hoyer? Where is Jim Clyburn? WHERE ARE THE PEOPLE’S LEADERS???
Come to think of it, where’s Elizabeth Warren? Weren’t her supporters, the ones who assured everyone it was just fine for her to take an advisory role to Obama instead of one with teeth, with power, saying we’d be hearing from her all the time, calling Obama and Geithner out?
If Bush’s tax cuts are allowed to expire as they are set to on December 31st, the deficit would be cut in half, instantly.
If the tax cuts are continued for the rich, we would have to borrow $700 billion to pay for it. http://money.cnn.com/2010/11/14/news/economy/bush_tax_cuts_deficit/
If the tax cuts are continued for everyone, we would have to borrow $3 trillion to pay for it.
And if there is a 2-year extension “compromise”, we would still have to borrow $70-140 billion for the rich’s portion and $383 billion for the middle class’s portion.
Obama is expanding the wars into Yemen. http://www.presstv.ir/detail/151276.html
Where’s the money coming from?
Obama and Democratic leadership have already indicated they’re on board with Social Security cuts, privatizing, etc. http://archives.cnn.com/TRANSCRIPTS/1008/15/sotu.01.html
There should be tax HIKES on corporations and the rich. There should be massive cuts to the military. Banks should be threatened with nationalization unless they begin lending to small businesses.
Democratic politicians should be beating this drum, loudly and constantly. If the poor and middle classes are ever to recover, the deficit must be reduced. We should only add to the deficit (borrow) if the money is going to go directly to and for the poor and middle classes, but not in tax cuts.
The term “Democratic leadership” has no meaning anymore.
I agree with what you say but expecting so-called “Democrats,” who are but bought-off Republicans, to do anything at this point – other than what they’re doing – is a waste of your time, imo. We have a corporatist one party system with two branches… both of which serve the corporations, not the voters.
What will the rich do with their tax cuts? Well for sure they will NOT be creating jobs in the USA with it. Any jobs that the rich create with any tax cuts they get will be created in third world countries. The rich will also invest overseas, not domestically. Anyone who believes otherwise, please let me know. I’ve got this golden bridge across the San Francisco Bay for sale… cheap… today only… just for you!
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