2012 Republican economic plan - more tax cuts for the rich

Posted on Friday, October 28, 2011 at 09:31 AM

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Here's the 2012 Republican economic plan in a nut shell: more tax cuts for millionaires and billionaires.

It's simple really, easy to get your head around.

Never mind that America's rich haven't created any worthwhile jobs or industries in a decade, just accept that the rich should be getting richer at an even faster pace.

That's where you come in. By voting for the GOP 2012 candidate you will help to insure that no millionaire is left behind.

Consider this: in the last 30 years the average after-tax income for the top 1% of U.S. households almost quadrupled, up 275%, from 1979 to 2007 according to a report released this week by the non-partisan Congressional Budget Office (CBO).

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Two hundred and seventy five percent! It's Robin Hood in reverse!

The top 1% also reaped a 17% share of all American income, and that's up from just 8% in 1979 - but clearly there's still more work to do, with help from their friends in the GOP.

In the last decade almost all of Americas economic gains were concentrated in the households of the top 1%, but by voting GOP next year you can finally ensure they get it all!

I know, if you actually believed in economic opportunity for all you wouldn't vote GOP would you? Instead you believe in helping the rich to help themselves. And with your vote they're doing just that.

If Americas billionaires aren't investing in national industries, well I'm sure they have their reasons. Maybe they don't feel appreciated? Maybe all this Occupy Wall Street stuff has hurt their feelings? Maybe that's why they're hoarding their cash in gold and offshore investments year after year after year?

Far be it for me to criticize them. I'm sure they all have our nations interests at heart.

I mean if you have to choose between Obama's American Jobs Act (which would raise economic demand and boost employment) or the Republicans' Jobs Through Growth Act (which would exclusively protect corporate profits from taxation) it's obvious which one you should choose. Look how well the Bush era tax cuts have worked out already.

Senate Republicans last week killed a provision that would have provided $35 billion to hire or retain schoolteachers, police officers and firefighters. It's a luxury we can't afford!The Republicans killed it when they noticed t required a half-percent tax increase on incomes over $1 million a year. Half a percent is daylight robbery!

So you lowly peons just need learn some patience. It took thirty years for this level of inequality to explode across the United States. Just give the GOP another 30 years, for goodness sake.

I'm confident the droppings from the tables of the rich will be even greater if we let them get even more absurdly rich. The symbol of the GOP is an elephant, they know all about it.

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maryo137 | Oct 28, 2011, 11:26 AM EDT

Obama is a hopeless case and tax cuts for the people who pay the most should be the headline. I remember the Dems telling people who paid no tax that they wouldn't be receiving a rebate; they realised that these people have no clue and that it would stir them up. Just vote for us and we will take care of you. The unions are another story. Their chant is "What do we want? More and More. When do we want it? Now and Forever? The dems say give ot to them, they are our biggest contributors. They also meet with the president more than some cabinet members. You must get a check every month grom George Soros for these one sided stories and agendas. The Arts editor of my paper never writes about politics.

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EphraimKibbey | Oct 28, 2011, 11:21 AM EDT

@ccorser - The US economy is crucial to an Irish recovery. When most Americans (the 99%) are flush with cash, they spend it and in the past they spent a lot of it on Irish goods. When the top 1% get more, they salt it away or gamble it away in speculation because they are already buying everything they need. If you compare a graph of the EFFECTIVE taxes since we started the income tax in the US to a graph of unemployment here, you see that the GOP's trickle down economy is a lie, pure and simple. The exact opposite is true. The graphs show that, when EFFECTIVE taxes are INCREASED, the unemployment in the US has DECREASED. This is because the money from those taxes went into the economy instead of someone's mattress. When the rate on millionaires dropped in the 20's, the rich speculated so much on Wall Street, that it collapsed resulting in the Great Depression. More money in the economy means more jobs. More jobs means a stronger economy and so on up and up. The GOP wants us in a downward spiral, the Dems want us in an upward spiral. The leaders of the GOP have stated that they want Obama gone at all costs including the ruination of our economy. If you look at the GOP candidates' tax plans, they are all regressive which will exaserbate both the deficit and the recession.

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OleSarge | Oct 28, 2011, 11:17 AM EDT

I guess be a liberal and stupid go hand in hand. The Republicans in the United States have offed up several plans for job growth and addressing our huge debt. the Democrats have refused them all. The Democrats want to enslave Americans in economic bondage to the federal government. the Republicans are the freedom fighters and the Democrats are the Crown forces.

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ccorser | Oct 28, 2011, 10:55 AM EDT

I'm not certain what O'Doherty's constant campaigning for Democratic candidates and positions has to do with Irish related news.

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hollabackgurl | Oct 28, 2011, 09:57 AM EDT

Let me see: employment for teachers, police and firefighters from the Democrats - or deep cuts, unemployment and more giveaways to the already rich from the GOP? It's a no-brainer alright.

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rgray222 | Oct 28, 2011, 09:52 AM EDT

The democrats plan of spending $1.2 Trillion on stimulus......how did that work out! Now the new Dem plan to spend half a trillion more, how is that going to work out! Obama promised to cut unnecessary spending LOL. He promised to cut the deficit in half in two years, how did that one work out LOL LOL. You might be surprised that "everytime" taxes are cut the economy is stimulated and gets back on track, that is everytime!!!! Just look at the record. Spending money that you don't have, for some odd, misguided reason some think it is a good idea! How sad! Obama said he would cut uneccessary spending LMAO!

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TheOldPerfessor | Oct 28, 2011, 09:44 AM EDT

While the "tax rates" are very high, the actual taxes paid by corporations tend to be very low. Reuters reported that most corporations in America pay no taxes at all. This leaves them lots of spare money laying about to buy elections.

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hollabackgurl | Oct 28, 2011, 09:36 AM EDT

Taxes on the rich are the lowest levels in US history; their incomes are now at the highest in US history - the CBO study confirms what the dogs in the street know: the sting is on and the GOP are its cheerleaders.

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DLW12183 | Oct 28, 2011, 09:32 AM EDT

Totally ignorant

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colkelley | Oct 28, 2011, 09:25 AM EDT

Once again Cahir demonstrates his lack of knowledge. Wealthy Americans do not invest at this time because of two things: The fact that corporate and business taxes in America are the highest in the industrialized world; and the total uncertainty about what the Obama administration is planning for higher taxes, greater regulation (already costing more than $1 Trillion each year) and Obama and the Democratic Party's demonstrated hatred of capitalism. Grow up, Cahir.

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