willbeurdaddy -> RE: An essay everyone should read (9/4/2011 1:49:41 PM)
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ORIGINAL: DomKen quote:
ORIGINAL: willbeurdaddy quote:
ORIGINAL: DomKen quote:
ORIGINAL: TheHeretic He starts with the fight over the debt ceiling, and finds it scandalous that the Congress has done this 87 times since WWII, without a ripple, but this time it was an issue. Just how deep in the bowels of the system must he have been to see 63 seats change hands, yet have no understanding that the crazy spending and debt was a key element driving that wave? You missed his biggest point about this, which is crucial to your failure to understand what is so deeply wrong with your party. quote:
Their caterwauling about deficit and debt is so much eyewash to con the public. Whatever else President Obama has accomplished (and many of his purported accomplishments are highly suspect), his $4-trillion deficit reduction package did perform the useful service of smoking out Republican hypocrisy. The GOP refused, because it could not abide so much as a one-tenth of one percent increase on the tax rates of the Walton family or the Koch brothers, much less a repeal of the carried interest rule that permits billionaire hedge fund managers to pay income tax at a lower effective rate than cops or nurses. Republicans finally settled on a deal that had far less deficit reduction - and even less spending reduction! - than Obama's offer, because of their iron resolution to protect at all costs our society's overclass. Of course it is what is RIGHT about today's GOP, not wrong. And he either obfuscates or doesnt understand the "billionaire hedge fund manager" taxation debate. Which it is becomes pretty obvious when he uses that descriptor. So you're ready to defend carried interest? Last time it came up you ran away. Funny, I dont remember it coming up, but if I had seen it I certainly wouldnt have run away from it. Carried interest carries risk much more akin to capital gains than it resembles a management fee, and thats the tax treatment it deserves.
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