Obama’s Faustian Bargain

Warning!!!  I’ve tried to make a serious and informative comment in this post considering the proposition that everyone is entitled to my opinion.  It really is serious so you might as well skip it.

Tax Cut Bill Signed By Obama Packed With Obscure Stocking Stuffers For Businesses

On average the majority of working people received a very small tax cut. It is true all of our paychecks would have been smaller had the cuts not been extended. But what better way to save and create jobs than by increasing revenue and government activity.Tax cuts don’t create jobs. Only investment in plant and equipment will do that. The Bush tax cuts were the largest in history. If tax cuts create jobs, where are all the jobs? I think we know the answer to that question.

Einstein once said that to do the same thing over and over and expect a different outcome is insanity. The reasonable expectatio­n from these latest supply side cuts has to be there will be little or no job creation. To think otherwise validates Einstein’s comment.

Moreover, the payroll tax cut is very likely a Trojan horse that working men and women will pay for many times over. It represents another Obama sneak attack on Social Security which this president is determined to cut.

Small businesses can indeed be a job creation engine. But let’s be realistic. Small business cannot create nearly the number of jobs needed to reverse the decline in the US economy. And many of those jobs are in the service and retail industries and of the the minimum wage, no benefit variety. So while tax cuts for small business are useful, they will not recharge the economy.
The amateur Machiavell­is in the White House and Congress are hatching plots to further diminish the prosperity of the average worker. Obama agreed to the extension of the cuts into 2012 knowing that the likelihood they will be made permanent is near certain. In exchange he got a thirteen month extension in unemployme­nt benefits for those who are eligible. Why not two years for a stimulus program that is far better than tax cuts??? Obama, for a reason, will allow UI benefits to expire in about a year.

What is that reason? Part of Obama’s Faustian bargain with the GOP was to exchange permanent tax cuts and end UI benefits along with Social Security cuts not yet announced for shaking loose a few Republican votes on START and DADT and ending the Republican blockade on judicial nomination­s.

The millionair­e media has hailed the deal as a success for Obama and proclaimed the outcome the president’­s Renaissanc­e. Nothing could be farther from the truth.

We’ve been had big time yet again. And for this Faustian bargain, the workers of this country will pay dearly for decades to come.

Read the Article at HuffingtonPost

Posted by John Jacob Sardo at 12:49

One Comment to “Obama’s Faustian Bargain”

  1. This is just the start of the onslaught.Everything is to be Corporate.The “Powers That Be”are after “One World Order”,while Society is becoming fragmented.We need a new system,enough is enough.As mentioned in your post,to keep repeating a FAILED system.Unite under one banner.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: