That old worn-out class issue...pooh
As the tax cut is signed, we might pause to remember Krugman's recent words:
"But balancing the books without tax increases will require deep cuts where the money is: that is, in Medicaid, Medicare and Social Security.
The pain of these benefit cuts will fall on the middle class and the poor, while the tax cuts overwhelmingly favor the rich. For example, the tax cut passed last week will raise the after-tax income of most people by less than 1 percent � not nearly enough to compensate them for the loss of benefits. But people with incomes over $1 million per year will, on average, see their after-tax income rise 4.4 percent."
As the AP says today,
"Democrats also have criticized the package as a giveaway to the wealthy, stressing its cuts on taxes on capital gains and corporate dividends rather than its lower income tax rates and increases in the federal child credit. Frist dismissed that emphasis as "the old, worn-out, tired, class warfare issue."
Ah yes...the old worn out class warfare issue.
Hearing that GOP line everytime a person tries to point out this cut's disparate imapact sounds to me like defending a suspect Caligula policy with:
"oh...that old, worn out, tired, 'crazy-emporer' issue."
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