Friday, September 24, 2010

Tax Cuts and Shut Downs

 *** Ezra Klein explains in the Washington Post how the Republican plan would hurt more than help:

...Take the deficit. Perhaps the two most consequential policies in the proposal are the full extension of the Bush tax cuts and the full repeal of the health-care law. The first would increase the deficit by more than $4 trillion over the next 10 years, and many trillions of dollars more after that. The second would increase the deficit by more than $100 billion over the next 10 years, and many trillions of dollars more after that. Nothing in the document comes close to paying for these two proposals, and the authors know it: The document never says that the policy proposals it offers will ultimately reduce the deficit.

Then there's the question of policy uncertainty. The health-care law, which is now in the early stages of implementation, would be repealed. In its place, Republicans would write a new health-care bill. They offer some guidance as to what it would look like, but as every business knows, the congressional and regulatory processes are both long and uncertain. That's joined by three sentences on shrinking and reforming Fannie Mae and Freddie Mac -- the policy's anticipated effects on the housing market, where the two mortgage giants are backing nine out of every 10 new loans, are not mentioned -- and a promise to force a separate congressional vote on every regulation with more than $100 million in economic impact, which would force businesses to figure out a new, dual-track regulatory process.

The agenda is least confused on the subject of reducing government. Though it says little about specific cuts it would make, the pledge includes a cap on non-security discretionary funding, the aforementioned congressional review process for big-ticket regulations, a hiring freeze on federal employees, and weekly votes on spending cuts. None of these policies are spelled out in any detail, but nor are they contradicted by other elements of the plan.....

The Republicans created the financial disaster we've been living in today.  Why would anyone want to give them power again?
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*  Do you know that one of Republican John Boehner's goals is to shut down Congress.  The Republicans did it in 1995 and 1996.  (I guess when you've got nothing, you just throw a tantrum.)  The shutdowns of Congress in the 90's by the Republicans did some huge damage, and now they want to do it again.  What would happen if the Republicans gain control and then shut down the entire government?

Gerald McEntee at Firedoglake gives us the results if the Republicans take control:

 ....Across the country, politicians who stand for policies that would transfer wealth and power back to the Wall Street barons are on the November 2nd ballot. Republicans who call for a return to the unregulated capitalism that created our economic crisis are running for the Senate in states such as Alaska, Arizona, Delaware, Florida, Kentucky, Ohio, Pennsylvania, Washington and Wisconsin. Their election will tip the balance far onto the side of the bankers and hedge fund managers who did so much to rob Americans of the dreams for a better future....

....They could care less about the working people of America, and no corporate produced PR gimmick should let them off the hook for their disastrous past performance. Their reckless incompetence and greed cost many millions of Americans their jobs, their homes and their hopes for the future. We need to understand that the very people who drove the economy into the ditch are now planning to take back the keys, restart the engine and take the whole country along on their reckless joyride along the road to the bottom. That’s their real pledge.


Every American who relies on Social Security, Medicare or veterans benefits needs to know what the Republicans have in store for them if they take power next year. The millionaires who host right wing talk shows are not likely to realize how important a Social Security check is to the family that needs it to get by in difficult times. They aren’t getting their care at VA hospitals. They don’t need a student loan. So, they haven’t reported on the GOP plan to raise the retirement age, massively cut vital public services and shut down the government if they don’t get their way. Instead they’ll be talking about how wonderful this new "pledge" is, and how much better off we would all be if they could implement it tomorrow....

If you vote for Republicans and they shut down the government, as they've done before, the mail won't be delivered, veterans' hospitals would close, Social Security checks wouldn't be deposited, every government building and agency would close.  Do you really want this total chaos from the Republicans?
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***  Rep. John Boccieri (OH-16th) is a hardworking member of Congress, with an interesting background.  Here is a little tidbit from his congressional website:

...Congressman Boccieri is a Major in the U.S. Air Force Reserve. As an aircraft commander aboard the C-130 Hercules, Boccieri deployed in four rotations to Iraq and Afghanistan in support of Operation Iraqi Freedom and Operation Enduring Freedom....

...In Congress I am working for fair trade policies that promote the growth of American businesses and create good-paying jobs to support families here in Ohio...

On the battlefield, we pledge to leave no soldier behind. As a nation, it should be our pledge that when they return home, we leave no veteran behind, and that includes making sure our veterans have access to health care and other benefits promised them when they joined the armed forces....

Very impressive.

However, Boccieri's opponent, Renacci, on the other hand, is not so impressive.
Republican Jim Renacci on business (LINK):

1. Renacci Was Accused Of Failing To Pay His Employees And Kicked Out Of The Better Business Bureau.
2.  Renacci Was Sued For Failing To Pay Wages To An Employee.
3. Renacci Was Blasted For Losing "Hundreds Of Jobs" Due To His "Lack Of Leadership."
4. Renacci Critcizes Cash For Clunkers, Yet Profitted From It. 
5. Renacci's Company Collapsed, Leaving $200,000 In Debt 
6. Renacci Sued for Writing Checks "For His Own Personal Benefit And Gain."  

What has Renacci's done on trade (LINK)?
1. Renacci Was Registered As A Lobbyist On Foreign Trade Issues. 
2. Renacci Signed Pledge Supporting Tax Breaks For Companies That Ship Jobs Overseas....

For the complete background on the Renacci, visit the very informative Real Renacci. Check under the "Issues" link for the shocking details and "read more."

And one more thing!!!!!!

The Hill:

....Renacci got entangled in a complicated dispute with the state of Ohio over whether his network of businesses, which includes nursing homes and an auto dealership, made a profit in 2000.
Renacci, who's running against freshman Rep. John Boccieri (D-Ohio), declared a loss on his taxes. But after getting audited, he and his wife ended up settling with the state for more than $1.3 million in back taxes, interest and penalties, court records show.....

Ouch!!!!!!!!