TIME Magazine unveils Josh Bolten’s new five-point plan for righting the Dubya presidency: 1) Act tough on immigration with “guns and badges”; 2) Humor Wall Street with extensions on capital gains and dividend tax cuts; 3) “brag more”; 4) Talk tough at Iran; and 5) play nice with the press. So, wait, we’re going to war with Iran just so Bolten can squeeze six more months out of lame duck Dubya? Brilliant.
Category: Taxes
Offset Pt. II.
With the first round of Operation Offset on its way to becoming law, Dubya submits a $2.8 trillion budget that further reflects the egregiously screwed-up priorities of this administration. The proposed budget “would cut billions of dollars from domestic programs ranging from Medicare and food stamps to local law enforcement and disease control while extending most of his tax cuts beyond their 2010 expiration date… [these] tax cuts, tax incentives and tax-cut extensions would cost the Treasury $1.7 trillion over the next decade, dwarfing the $172 billion in entitlement savings and proposed user fees in the budget.” Why didn’t anyone think of this before? Conducting war is so much easier when only the poorest Americans have to sacrifice. And as for the exploding deficits? Hoo boy. For an administration that purportedly cares about the unborn, this White House seems to have no qualms about foisting debt on the next generation.
That’ll teach the poor.
Operation Offsetted: By the slimmest of margins (216-214), the House GOP pass the “deficit-cutting” (read: millionaire tax-giveaway off-setting) bill striking $40 billion from “Medicaid, welfare, child support and student lending.” (It previously passed the Senate on Cheney’s vote.) I’m reminded of a quote by Walter Lippmann on the Goldwater ’64 campaign: “We all know of demagogues and agitators who arouse the poor against the rich. But in Barry Goldwater we have a demagogue who dreams of arousing the rich against the poor.“
ANWR’s Nine Lives.
“The legislation would allow states to impose new fees on Medicaid recipients, cut federal child support enforcement funds, impose new work requirements on state welfare programs and squeeze student lenders.” Although a tie-breaking vote by Cheney got the deficit bill passed — meaning people on Medicaid, welfare recipients, and students with loans will soon be paying for Dubya’s millionaire tax breaks — the Dems do succeed in beating back ANWR drilling, much to the chagrin of Ted Stevens, who gambled that the Senate wouldn’t vote down a defense bill.
Dwindling Crescent.
“We are about to lose New Orleans. Whether it is a conscious plan to let the city rot until no one is willing to move back or honest paralysis over difficult questions, the moment is upon us when a major American city will die, leaving nothing but a few shells for tourists to visit like a museum. We said this wouldn’t happen. President Bush said it wouldn’t happen.” By way of Looka, who’s been doing an exemplary job covering the Katrina aftermath, remember New Orleans.
As Chuck notes, “Why are [Dubya and the GOP] balking at spending $32 billion to protect a major American city from further destruction while they seem to have had no trouble passing four tax cuts in the last week that totalled $95 billion?” Update: The White House announces it will spend $3.1 billion on levees. Well, it’s a start, I suppose.
The Recrudescence of Dividend Dubya.
Ever the one-trick pony, Dubya tries to make the case anew for dividend and capital gains tax breaks for the wealthy. But, to their credit, GOP moderates such as Olympia Snowe (R-ME) are no longer buying, and even cultural conservatives don’t want tax credits for Vegas-style businesses along the rebuilding Gulf Coast.
The Demise of Dubyanomics?
After some balking by GOP moderates — and a surprising defeat on a spending bill — yesterday, the House manages to pass their budget. Still, “Republicans salvaged the win this time only by jettisoning one of President Bush’s top domestic priorities, opening Alaska’s National Wildlife Refuge to oil drilling, then trimming planned cuts to food stamps, Medicaid and student lunch programs.” And, on the Senate side, GOP moderates not only joined Dems in preventing the renewal of Dubya’s capital gains and dividend tax cuts, but raised taxes on oil companies (which, of course, may prompt a Dubya veto.) Sure, there’s still a lot of lousy stuff in these bills, but it’s nice to see some of the central premises of Dubyanomics — soak-the-poor, cut the rich a break, a free ride for Big Oil — fall apart in a GOP-controlled Congress.
War on the Poor.
“It was unfortunate political timing for House Republicans: On Friday, as the Agriculture Committee was drafting budget-cutting legislation that could knock 295,000 people off food stamps, the Agriculture Department released findings that 529,000 more Americans went hungry last year than in 2003.” As is their wont, the House GOP cut food stamps, student loans, Medicaid, and child support enforcement in the name of preserving Dubya’s tax breaks for millionaires. Whatsmore, “[a]ccording to the Congressional Budget Office, neither the House nor the Senate bills will actually trim projected budget deficits, since they will be followed by a package of tax-cut extensions that would cost the Treasury $70 billion over five years.”
A Tale of Two Parties.
“‘We’ve had a stunning reversal in just a few weeks…We’ve gone from a situation in which we might have a long-overdue debate on deep poverty to the possibility, perhaps even the likelihood, that low-income people will be asked to bear the costs. I would find it unimaginable if it wasn’t actually happening.'” As the Republicans fall into further disarray over such matters as Harriet Miers, the slew of indictments, and Katrina spending, it now appears that the GOP is even having trouble lining up candidates for 2006. But can the Dems capitalize on the GOP house divided? If Katrina is any indication, we’re still clearly in deep, deep trouble. For even despite all the current legal and political woes for Dubya and the sheer rapacity of Operation Offset, many on the left see the post-Katrina debate over poverty slipping away…
Making Hay while the Cities Drown.
Looka points the way to a truly horrifying breakdown of Operation Offset, the House Republicans’ disgusting, abhorrent proposal to pay for Katrina reconstruction (without, of course, touching a red cent of Dubya’s millionaire tax breaks) So, guess who foots the bill?
“The Republicans would freeze funding for the Peace Corps, the Global AIDS Initiative, U.N. peacekeeping operations and a wide variety of third-world development programs; eliminate the EnergyStar program, eliminate grants to states and local communities for energy conservation, reduce federal subsidies for Amtrak, eliminate funding for new light-rail programs and cancel the president’s hydrogen fuel initiative; eliminate state grants for safe and drug-free schools because ‘studies show that schools are among the safest places in the country and relatively drug free’; and eliminate the teen funding portion of Title X, which provides ‘free and reduced-price contraceptives, including the IUD, the injection drug Depo-Provera, and the morning-after pill’ to poor teenagers.
Along the way, they’d find a way to punish — or simply eliminate — some of their enemies, real and imagined. They’d cut funding for the District of Columbia, eliminate funding for the Corporation for Public Broadcasting, eliminate subsidized student loans for graduate students, terminate the Legal Services Corporation, eliminate funding for the National Endowment for the Arts and kill the National Endowment for the Humanities…
[T]he Republican plan also calls for ‘rational reforms to Defense and Homeland Security.’ Does this mean cutting weapons systems at the expense of big defense corporations? Well, no. But it does mean closing schools for the children of soldiers, cutting grants for local responders and offering National Guard members the ‘option’ to purchase a less comprehensive healthcare plan.”
So, just to clarify: Rather than roll back the Dubya tax breaks for the wealthiest 1% of Americans, which almost alone would raise the necessary funds, Boss DeLay and the House GOP want to cut a Grover Norquist-style swath of destruction through our government and foist the clean-up bill on everyone but their fatcat cronies. I must say, I am consistently surprised by the current GOP leadership’s ability to plumb new depths of repugnance.