Showing posts with label national debt. Show all posts
Showing posts with label national debt. Show all posts

Monday, May 12, 2008

Bush's tax cuts are like a subprime mortgage.

More people are waking up to the fact that the Bush tax cuts cannot be sustained without slowing the growth of the economy, and the tax cuts eventually will have to be scaled back. On top of this, in order to pay the interest on the national debt created by the Bush tax cut, there will have to be a permanent tax increase of at least five percent (see my previous post). This forever tax probably will be even higher, depending on how long the current tax cuts last and whether there is consensus to pay down any of the enormous debt they've created. If you were a twenty year old who got a twenty percent tax decrease for ten years while your income was low, you may not be happy that as a thirty year old you'll face a five, six or seven percent tax increase for the rest of your life when your income is higher. In the end, you'll lose money on this "tax break." Come to think of it, this tax deal is structured like a subprime mortgage. You get a teaser payment upfront, and then get hit with high payments you can't afford later.

Sunday, May 11, 2008

Are Republicans victims of battered person syndome?

Here and elsewhere, the long sad story of how the Bush Administration has abused the average U.S. citizen has been well documented and publicized.

Yet many Republican voters support that party's nominee in 2008, John McCain, who promises very little change from present policies (see my previous post). Could they be suffering from battered person syndrome? A victim of this condition:

becomes depressed and unable to take any independent action that would allow him or her to escape the abuse. The condition explains why abused people often do not seek assistance from others, fight their abuser, or leave the abusive situation. Sufferers have low self-esteem, and often believe that the abuse is their fault. Such persons usually refuse to press criminal charges against their abuser, and refuse all offers of help, often becoming aggressive or abusive to others who attempt to offer assistance. Often sufferers will even seek out their very abuser for comfort shortly after an incident of abuse.