Media Watch

When a political party identifies itself as a champion against taxes, insisting on extending ten-year tax cuts that benefit rich folks indefinitely, then says it's OK to allow certain other tax cuts to expire (a payroll tax cut that would help low income earners), it becomes clear what the goal is. The 6.2% Social Security payroll tax on employees that was temporarily reduced to 4.6% by Democrats is ending on schedule, thanks to Republicans, who want that particular tax to expire. The tax cut only applies to the first $100,000 in earnings, meaning that a maximum of $2,000 will be gained by any earner.  That is to say, for millionaires it's not that significant of a cut to be concerned with.  Millionaires will forgive their Congress for such a petty loss. But the gains for the federal coffers could be $120B.  So even if it is a tough chunk for earners to swallow, Republicans really have to show fiscal responsibility at this point in time.  They're running for th...

I think what Warren Buffet is saying is that we-the-people have failed the nation in regulating the money flow into the hands of the power class, that it's time to start taxing capital gains and commerce in a meaningful way and stop penalizing the hard work of the earners in America.  It's time to shift the purse strings from the individuals to the revenue generators -- the power class -- in this country. So from all American earners, I say we are sincerely sorry for our weaknesses.  We thought we could hold their feet to the fire, to keep the power class honest, but through some misguided choices on our part, we have failed America. Please help us and our nation by taking the purse strings back. PS -- we're also returning the currency to you.  It's a little dinged up, so you'll have to fix that, too.  Please don't be too mad at us.