Wednesday, November 21, 2012
I've just caught Progressive talk show host Thom Hartmann in a flip flop, because in the past he's. Said that we shouldn't just let all of the Bush tax cuts expire even for the middle class but that we should also. Repeal the Reagan tax cuts from the 1980s and I'm guessing the Clinton tax cuts from the 1990s as well, even though I haven't directly heard him say that. And go back to the Eisenhower tax rates on the 1950s, which would mean the Obama tax cuts from the last four. Years totaling in the neighborhood of 200B$ from the guy, whose suppose to be a Socialist, a Socialist. Cutting taxes, thats sorta like a pacifist attacking and innocent senior citizen or something. Doesn't sound believable right and of course repealing the Kennedy tax cuts of the 1960s, the five Presidents. Who've cut taxes in the last fifty years, 3-5 of them have been Democrats, keep that in mind folks as far as which party you believe will keep your taxes down. Both parties cut taxes, they just do it differently.
But back to Thom Hartmann who in the past has said we should go back to the Eisenhower tax rates of the 1950s. Ranging from 25-90%, those are also the days before the Earned Income Tax Credit or EITC, which takes low income workers off the payrolls. As far as having to pay Federal income taxes, people who Progressives are suppose to be in favor of looking out for. So if we were to go back to all of the 1950s tax rates, even low income workers would get hit with a tax hike. This is why its generally not a good idea to have Progressive/Social Democrats running our tax policy. Because we would all as a country get hit by it but now even Thom Hartmann has moderated saying we should. Go over the fiscal cliff, come back in January and pass a middle class tax cut and keep the tax cuts. For high earners expired so they are going back to the 1990s, always interesting with Thom Hartmann which is why I listen to him.