Friday, November 12, 2010

Catfood Commission

I haven't used the common nickname for Obama's Deficit Commission because they hadn't earned it. Until now. Let me count the ways.
  1. The co-chairs, Erskine Bowles and Alan Simpson (hereafter known as B&S), kneecapped the president. Obama was out of the country and unprepared for their surprise.
  2. B&S undercut the commission's actual final report by issuing their own private report first. There are sixteen other members of the commission who have just been marginalized and trivialized by the chairs.
  3. Their plan would reduce the tax rate on the richest Americans to a level (24%) not seen since 1929. 
  4. At the same time they would eliminating mortgage deductions thus significantly increasing taxes on the middle classes.
  5. The end result of 3 & 4 would be a huge transfer of wealth to the richest 1% of Americans.
  6. B&S would eliminate the Earned Income Tax Credit in a cruelly targeted attack on the working poor.
  7. B&S would bankrupt the elderly unto death with caps and limits on Medicare. (Talk about a Death Panel.)
Even after it collapses from the weight of its own stupid it will be a millstone around the President's neck. In 2012, B&S will be forgotten men and President Obama will be the one who wanted to feed the rich and starve the elderly.

    No comments: