The Republicans have said they will not budge. They will not support any fiscal reduction plan that mandates a tax increase for the richest of the rich. The Democrats have said that they will not support any fiscal reduction plan that does not mandate a tax increase for the richest of the rich.
President Obama has made it clear that he is not going to balance the budget on the backs of the Middle Class and the Poor. While the Republicans are demanding cuts and revisions in entitlements. The president has clarified that Social Security and Medicare are not on the table. The Republicans on the other hand want entitlements, including Social security and Medicare on the table.
It seems that both parties are at the edge of the mountain and no one will give an inch. But it is we the People who stand in the center of the at odd parties tugging back and forth over our future. I think most American’s feel that everyone, including the richest of the rich should step up to the plate and pay something into this fiscal mess. Most American’s are able to remember the Wall Street crisis, the bailout’s, the Housing/real estate mess that we all went through. They all remember the worst recession since the 1930’s, and most I am sure remember that in the end it was the very people who got us into the mess by poor investing and lousy banking rules, as well as won-ton-disregard for the working people, who were the recipients of massive million dollar bonuses. It ruined many an American family, and many American businesses that through no fault of their own were duped into poor investments or too good to be true mortgage packages.
Over the last twenty or so years we have watched as one investment house after another went under, wiping out thousands of 401(k)’s and Mutual Fund accounts, ruining even more families as well as their future retirement plans. Once again, the fat cat’s are rewarded and the little guy bit the dust.
We watched as one corporation after another decided they were cutting benefits, insurance, and other important employee programs. On on and on it went. Still, no one at the higher level is paying up a dime. But the Middle Class and the poor are expected to pick up the tab.
As for all this talk about the reinstatement of a higher tax bracket for the rich, (The Bush Tax Cuts), that were designed to allow business to create more jobs and keep the economy moving. My question is where are the jobs? They said they would be able to create more jobs with the tax break. Instead, all we are seeing is the creation of minimum wage jobs and continued cuts in individual wages. Still, they say that if the tax base returns to Clinton era standard then jobs will be lost all over the country. Sorry folks, that does not make sense. The average increase would amount to no more than 3%.
So….The talks are stalled. No one wants to come to the table. No one wants to compromise, or seriously address the coming fiscal crisis. It means that we will fall off the cliff.
That’s where we sit. Now the question is will it change. For the sake of the nation, for the sake of families, for the sake of the future of this country, I hope it will.
That’s my point of view………I look forward to your insights on the issues of the day. Meanwhile, have a great night and as usual………..God Bless America!