The republicans don’t want the sequester to go through, and neither do the democrats. Who would? It’s anathema to republicans to slash so heavily from the military defense budget, despite the fact that spending is done not in the name of patriotism, but to benefit the defense contractors who in turn offer handsome campaign donations and once out of public office, just might have a lucrative lobbyist position with their name on it.
Why then can’t the republicans reach an agreement with the democrats? Believe it or not, despite the fact these cuts to various middle class programs will be felt, and painfully by the shrinking middle class, the sequester, if it does go through, might be a good thing. Here’s what would not be a good thing, if Obama agrees to cuts on medicare, medicaid, and social security – they call that an ‘entitlement’ with derision on the right, but people pay into it their entire lives. They are in fact entitled to it.
The congress has a pitiful approval rating, ranging from 10-19% depending upon the poll or the day. If Obama truly wishes to fight for the middle class, he’d hit the congress over the head with the logic stick from the bully pulpit, deride them with facts backed by actual math and statistics – difficult to grapple for those who believed the Paul Ryan budget was brilliant, so complex Paul Ryan couldn’t possibly explain it to us.
My solution? Raise the payroll tax cap from $106,000.00 to $250,000.00. Or why not just vanquish the cap altogether? You’ll hear it parroted again and again that 47% of Americans don’t pay income tax – and this is equated with the idea they don’t pay tax. They do, on payroll, and on the goods they buy – which constitutes a far greater percentage of their income than the wealthy. Why if you’re making $150,000.00 don’t you have to pay tax over anything above $106,000.00? The guy earning $50,000.00 a year pays full into the payroll tax, and that carries with it a heavier burden, one those making grander salaries could shoulder with us, by matching dollar for dollar on their payroll tax. It’s better than cutting from the ‘entitlement’ programs. This article talks about Obama reaching out to Mitch McConnell, and if you’re a progressive, that’s not such an enthusiastic proposition. Raise capital gains tax another 5% and add another %5, at the bare, bare minimum, from the effective corporate tax rate. Oh yeah, we should cut a whole lot from the defense budget and put it into genuine efforts for renewable energy sources that will be the way of the future, and double NASA’s budget. The economy, and the world may thank the US if such a miracle were to occur.