Dumb, Dumber, Dumbest

The Tea Party is celebrating its gains in the last election, claiming that the American people support their drive to get the deficit under control and reduce the power of the fat cats that control Washington. And how, exactly, does the Tea Party propose to do that?
First, they want to end earmarks. Dumb. Ending earmarks won’t do a thing to lessen the deficit. The money that earmarks affect has already been appropriated. Earmarks only allocate what is already appropriated. If there are no earmarks, the money will just be spent by non-congressional agencies. It won’t mean a thing for the budget. However, even if it did, it would be so small an amount as to be almost insignificant, just 1 percent of the deficit. Hoping to reduce the deficit by eliminating earmarks is like hoping to lose weight by getting a haircut. All that fuss over practically nothing. Dumb. Really dumb.
Second, they want to extend the tax cuts for the wealthy. Why? Well, they claim it will hurt “small businesses” and reduce much-needed investment to spur our sagging economy. Dumber.
“Small businesses?” The tax will only affect those with over $250,000 net incomes. How many “small businesses” do you know that net over $250,000 profit? Further, the tax increase is marginal. It won’t affect their total income, just the income over $250,000. So not extending the tax cuts for the rich will increase the taxes owed on a $500,000 income, for example, by a mere $8,000. An even dumber idea.
Thirdly, the Tea Party and the rest of the Republican Party claim that restoring the previous tax rate on the rich, the tax rate we had when the U.S. was growing by leaps and bounds, will hinder the investment that is so needed during these ‘woeful times. Well we do need investment, but putting more money into the hands of the rich won’t spur it. The top 1 percent already have lots of money. Twenty-one percent of all income, in fact. They just aren’t investing it. Endless studies have demonstrated that people and businesses invest not because they have money, but because they see opportunities in an expanding economy. In short, expanding economies bring investment more often than the other way around That’s why today corporations in the U.S. are sitting on almost $2 trillion in cash instead of investing it. Why? Because they don’t see that their investments will pay off.
Those might be the least informed, dumbest claim put forth in years.
With the exception of the claim by the Republicans and the Tea Party that the “liberals” and Democrats are trying to wage “class warfare.” That has to be the dumbest yet, Warren Buffet, a multi-billionaire, but an honest one, recently said, “There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” And the Tea Party is helping them to win it.
Incredibly, unbelievably dumb.
BRUCE ALLEN
Del Haven