Robert Reich writes:
The deal the President struck with Republican leaders is an abomination.
It will cost $900 billion over the next two years — larger than the bailout of Wall Street, GM, and Chrysler put together, larger than the stimulus package, larger than anything that’s come out of Washington in years.
It makes a mockery of deficit reduction. Worse, the lion’s share of that $900 billion will go to the very rich. Families with incomes of over $1 million will reap an average of about $70,000, while middle-class families earning $50,000 a year will get an average of around $1,500. In addition, the deal just about eviscerates the estate tax — yanking the exemption up to $5 million per person and a maximum rate of 35 percent.
And for what?
Wealthy families won’t spend nearly as large a share of what they get out of this deal as will middle-class and working-class families, so it doesn’t do much to stimulate the economy.
The deal further concentrates income and wealth in America — when it’s already more concentrated than at any time in the last 80 years.
You know the article by Alfred W. McCoy recently published on TomDispatch entitled “The Decline and Fall of the American Empire; Four Scenarios for the End of the American Century by 2025”. Perhaps it should be re-edited and re-titled “The Decline and Fall of the American Empire; One Scenario for the End of the American Century by 2015”! Obama loses in 2012 and that idiot. Palin completely screws the country by 2015.
I whish the north american people were a bit more well educated to know History and to know every single detail of the French Revolution and the fall of the Bastille in 1789…
That could be inspiring…
After viewing the video: Viva China!!!!
Truly……is Obama stupid?
Or was he/is he a Trojan horse?
They’re rioting in Ireland over the government austerity measures now that the gov broke itself….but in the US?…not a fricking street peep. We are just keyboard warriors now. Sooner or later we have to get up from our chairs.